A counterfeit currency racket involving fake notes worth ₹6.78 crore has been busted by the Future City Police Commissionerate, with four people arrested named as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy, and Karanam Ajay Kumar. Three others identified as Jelli Venkatesh, Kunja Balaraju, and Kampasati Srinivas are still at large.
Acting on a tip-off, police teams conducted a vehicle check at Abdullapurmet on Nov 1 and intercepted a car at Ramoji Film City on NH-65, seizing counterfeit currency worth ₹8 lakh. They also recovered fake police identity cards, an imitation pistol, walkie-talkie sets, and four mobile phones, according to a statement released by the Future City Police Commissionerate.
Following the arrests, police raided a rented house in Kuntloor on Nov 3, where the accused allegedly operated a counterfeit currency printing unit. According to the police investigation, the main accused scanned genuine currency notes, digitally edited their images using software, and printed counterfeit versions. The accused had allegedly learnt the process by watching YouTube videos and other social media content.
#WATCH | Hyderabad, Telangana: A counterfeit currency racket busted by Abdullapurmet Police and Shadnagar SOT. Police arrested four accused and seized fake ₹500 currency notes with a total face value of ₹6.78 crore. Police intercepted a car near Ramoji Film City on NH-65 on November 1, 2026, and arrested Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy and Karanam Ajay Kumar. Further investigation is underway to identify other persons involved in the racket: Future City Commissioner of Police, Dr. Tarun Joshi (Source: PRO, Future City Police)
— ANI (@ANI) November 4, 2026
However, after their attempts to circulate the counterfeit notes failed, the gang adopted a different approach by looking for potential customers willing to exchange genuine money for fake currency.
According to the police, the gang would initially gain the confidence of prospective customers by showing them genuine currency. Subsequently, its members would arrive in vehicles fitted with fake number plates, posing as police officers using counterfeit identity cards, walkie-talkies and an imitation pistol. They would allegedly threaten the customers and take away their genuine money before fleeing.
During the search of the rented premises in Kuntloor, police seized 134 bundles of counterfeit ₹500 notes worth approximately ₹6.7 crore. Printers, a laptop, a lamination machine, a currency-cutting machine and other materials allegedly used in manufacturing the counterfeit notes were also recovered.
The gang allegedly cheated two prospective customers, taking ₹2 lakh and ₹3 lakh from them on separate occasions using its impersonation tactics. The investigation into the case continues, according to the Future City Commissioner of Police, Dr. Tarun Joshi
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