The Madhavaram police on Monday arrested four persons for allegedly possessing and circulating counterfeit currency in the city.
Police said that D. Sudhakar, 38, a sales supervisor in a Tasmac outlet in Moolakadai, received a ₹500 note from a customer. On suspicion, he informed the Madhavaram police, who rushed to the spot and nabbed the person, identified as Subramanian, 32. Further investigation revealed that a gang was involved in printing and circulating the fake currency.
The police arrested Palaniswamy, 50, of New Washermanpet, Shahul Hameed, 48 of Vyasarpaadi, and Rafia, 30 of R. K. Nagar. Police recovered a laptop, printer, cutting machine, 4 bundles of colour paper and fake currencies worth ₹68,500.