A racket involving circulation of counterfeit notes of Rs 500 denomination has been busted with the arrest of two persons, police said here today.
Fake currency notes with a total face value of Rs 4.97 lakh along with genuine notes worth Rs. 3.28 lakh were seized from them, Deputy Superintendent of Police N Sudhakar Reddy told reporters.
The arrested included a non-practising advocate, he said.
The man was trying to circulate the fake notes here earlier today when he was arrested, Reddy said.
His accomplice was later arrested at Rajampeta in Kadapa district, the official said.
Further investigation is on to nab some more persons involved in the racket, he added.
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