The Bachupally Police successfully apprehended Prathipati Prem Chandu, a resident of West Godavari district, Andhra Pradesh, for circulating counterfeit currency in Hyderabad. Police seized counterfeit currency worth Rs 15 lakh from his possession during the arrest.
Prem Chandu reportedly came into contact with Rakesh, a resident of Pune, Maharashtra, who introduced him to a scheme for easy money by distributing fake currency notes. Following Rakesh’s instructions, Prem agreed to deliver counterfeit notes to certain individuals in Hyderabad in exchange for a commission.
On June 21, at approximately 3:30 pm near Nizampet Arch, Nizampet Village, Prem was caught red-handed by Bachupally Police while preparing to distribute Rs 15,00,000 worth of fake currency notes, all in Rs 500 denominations. Along with the counterfeit currency, a mobile phone was also seized.
K Suresh Kumar, DCP Balanagar Zone, Cyberabad, confirmed the arrest, and Prem Chandu was subsequently produced before the Magistrate and remanded to judicial custody. The police continue their investigation into the counterfeit currency network.
