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Bank Employee arrested for circulating Fake Currency in Tamil Nadu

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Vellore, Tamil Nadu: Three individuals, including a bank employee, have been arrested by the K.V. Kuppam police in Vellore, Tamil Nadu, for circulating counterfeit currency notes. The three recently arrested individuals are:

  • G. Velmurugan (29) – A bank employee working in Vellore.
  • R. Ganesan (23) – A farmer from the Ranipet district.
  • K. Satish – An individual running a saloon in Walajah town

The initial investigation revealed that the operation unraveled following a transaction at a local liquor outlet. A lorry driver named M. Murugan visited a Tasmac outlet in Nakkal village near Gudiyatham town.

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He handed over fake currency notes in ₹100 denominations to the salesman. Suspecting the notes were fake, the salesman quickly alerted the K.V. Kuppam police, who picked up Murugan for questioning.

Murugan confessed to getting the fake notes from a farmer named K. Mohanraj. While in custody, the police rigorously questioned the lorry driver and the farmer. To save themselves, the arrested men cracked and confessed to the police about the secret hideouts and identities of their remaining gang members.

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Following the initial arrests of the lorry driver and the farmer, the police recovered fake currency notes totaling ₹8,700. During interrogation, the suspects confessed and led the police directly to the hideouts of the remaining gang members—including the bank staffer—resulting in their arrests.

Police found that a bank employee G. Velmurugan (29) was also involved in this and subsequently he has been arrested.

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Hellobanker Team

Hellobanker.in is India's leading banking and finance news portal. Our expert team covers banking policies, RBI updates, financial markets, and investment insights.
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