Overview
- Counterfeit currency with a face value of Rs 4.75 lakh was seized along with a car, three motorcycles and nine mobile phones.
- Prime suspect Kasthuri Ramesh allegedly produced the notes by scanning both sides of genuine Rs 500 bills and printing copies.
- Investigators say the printing was done at Ramesh's house in Tandur with assistance from his sister.
- Police report that Ramesh promoted exchanges on Instagram, issuing four fake Rs 500 notes for one genuine note before the notes moved through 1:3 and then 1:2 exchanges among associates.
- The network came to light after Syed Altamash Ahmed was apprehended, and a November 12 raid under Mehdipatnam police limits resulted in the eight arrests.