Fake Notes Racket: Duo Inspired By 'Farzi' Held After Circulating 3 Lakh Counterfeit Currency In Hyderabad

Telangana Police busted a counterfeit currency racket inspired by web series 'Farzi' in Hyderabad and arrested two people.

A duo was arrested in Hyderabad for printing and circulating counterfeit currency.

Source : X/@ANI

Two people were arrested in Hyderabad on Saturday and sent to judicial remand after Telangana police busted a counterfeit currency racket inspired by the 'Farzi' web series. The accused have been identified as Vanam Laxminarayan, a computer science graduate and real estate agent, and his friend Erukala Pranay Kumar, who works in a private firm, the Times of India reported.

According to Police Inspector Anjaneylu, Pranay had already circulated fake currency worth Rs. 3,00,000 a few days ago. He was apprehended while testing the fake money at a fruit and vegetable market. He had fake currency worth Rs. 20,000 in possession when he was caught, reported ANI.

It was revealed during the investigation that Laxminarayn was also involved in a mortgage fraud with Kumar as his accomplice with a promise of a share in the profits, reported ANI. 

Police Inspector of Allapur Police Station, Anjaneyulu, said Laxminarayana, who was previously involved in a gold cheating case, was the prime accused. He was the mastermind behind the plan and decided to print fake notes and circulate them in the market after being inspired by the 'Farzi' web series.

Telangana police have seized 810 fake Rs 500 notes from Laxminarayn's possession, which he intended to circulate in the market. In addition to this, the police have seized other things like a printer and scanner that the duo used to print the fake notes.

#WATCH | Telangana Police yesterday busted a counterfeit currency circulating racket and arrested two persons, who were inspired by the 'Farzi' web series

Anjaneyulu, Police Inspector of Allapur Police Station said, "The prime accused is Laxminarayana. We have seized 810 fake Rs… pic.twitter.com/8GdyfQkZwP

— ANI (@ANI) February 4, 2024

Laxminarayan, the prime accused, allegedly used green foil paper, JK Excel bond papers, a screen printer, a lamination machine, and cutters to execute his plan, said inspector Anjaneyulu. The duo was planning to circulate the currency in a 1:3 ratio with the original currency, reported Times of India.