The police today seized fake currency notes in various denominations having a face value of over Rs 7 lakh and arrested three persons here.
The seized notes were in denominations of Rs 2000, Rs 500 and Rs 100 with the face value of Rs 7,32,500, said Joint Commissioner of Police A S Khan.
The arrested persons are identified as Ch Srinivas (40), who is believed to be the kingpin of the gang, KG Maheswara Rao (47) and B Appalanaidu (46).
"Using four or five original currencies of denominations of Rs 2000, Rs 500 and Rs 100, the trio produced about Rs 9 lakh fake currencies by using scanners and printers," the officer said.
He said the counterfeit currency notes with the face value Rs 1.7 lakh were already circulated in rural and urban areas.
ACP (Task Force) I Chittibabu said the trio passed off the fake notes as original by making photocopies.
"Photocopied currency can easily be identified as there is no watermark of Mahatma Gandhi on such notes," he added.
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