Bengaluru: Physically-challenged man arrested in counterfeit Rs 500 currency notes racket

In a recent incident in Bengaluru, a 60-year-old physically-challenged man, identified as Kodandamurthy from Bhadravathi, was apprehended on charges of defrauding local shops and roadside vendors using counterfeit Rs 500 currency notes.

The modus operandi involved the accused purchasing goods, such as vegetables worth Rs 35, with a forged Rs 500 note, subsequently pocketing the legitimate change.

The discovery unfolded when a vendor in Rajarajeshwari Nagar realized the received note was counterfeit and promptly reported the incident to the police. Authorities suspect the involvement of a more extensive network, implicating the accused in the production of fake currency. The collaboration may extend to include dealers, retailers, suppliers, and individuals engaged in the currency exchange process, all of whom remain at large.

Upon apprehending Kodandamurthy, law enforcement seized counterfeit currency totaling Rs 30,000, exclusively in the denomination of Rs 500 notes. The confiscated funds have been forwarded to the Reserve Bank of India (RBI) for thorough authentication to ascertain the extent of their legitimacy. Further investigations into the case brought to light the accused's criminal history, revealing multiple burglary cases registered against him across various police stations in the city.

The Rajarajeshwari Nagar police have formally registered a case against Kodandamurthy, and he is currently in their custody for a period of 10 days as the inquiry unfolds.

The incident underscores the need for continued vigilance and stringent measures to combat the proliferation of counterfeit currency within the region.