VIJAYAWADA: Three people carrying fake currency were held and Rs 12,03,500 worth fake notes, Rs 53,500 worth original notes and a colour printer were seized on Friday.
Palle Raghava Reddy, Bandi Raju and Adabala Anjaneya Murthy were held for exchanging fake notes. Krishna Lanka police traced the gang with information.
Palle Ragunatha Reddy, a farmer from Dhone in Kurnool was in a debt trap and asked his friend to help him. His friend suggested he trade in fake currency and introduced him to Bandi Raju and Adabala Anjaneya Murthy.
Raghava Reddy took Rs 4.5 lakh worth fake currency for Rs 1.5 lakh original currency from the two at Tanuku Bus stand. He then tried exchanging it at Pandit Nehru bus stand. Krishna Lanka inspector Chandrashekar took Raghava Reddy into custody and arrested them, and seized `12,03,500 fake 500 notes. and `53,500 worth original currency. K. Srinivas, South zone, ACP, Sundar Raju and CCS ACP presented the accused before the media.