Jagtial: Jagtial police busted a counterfeit currency circulation gang and arrested five of its members. Counterfeit currency valued at Rs 15 lakh and Rs 3 lakh original currency notes were recovered from them.

Producing the accused before media persons here on Sunday, Jagtial town CI Kishore explained the modus operandi of the gang.

Based on reliable information, police led by DSP R Prakash, CCS Inspector Kiran, Town SIs Raheem, Sanjeev and others conducted checking at Jagtial new bus stand area on Sunday morning and found five persons moving under suspicious circumstances. On questioning, they confessed to the crime of circulating fake currency notes. They also informed that they came to Jagtial to exchange counterfeit currency notes brought from Hyderabad.

Meka Shekhar from Thallapeta, Dandepalli mandal, Marmakola Radhakishan from Pottigudem, Jannaram mandal of Mancherical district, Yerrolla Srinivas Goud from Godavarikhni of Peddapalli district, Vijjagiri Srikanth and Vijjagiri Bikshapathi from Elkathurthi of Warangal district were arrested by the cops.

Counterfeit notes of 500 denominations valued at Rs 15 lakh and Rs 3 lakh original currency notes were seized from them. The gang, which used to be involved in treasure hunting, has incurred losses by taking up the activity in different places. In order to overcome losses, they have decided to circulate fake currency notes.

As part of their plan, the gang members brought Rs 15 lakh counterfeit notes from Hyderabad and tried to circulate them in Jagtial on Sunday. However, police foiled their attempt by arresting them. Shekhar had earlier been involved in fake currency circulation activities and six cases were registered against him.