Police said Kanagaraj, a silk merchant from Erode was waylaid on Monday and relieved of cash by a group that posed as policemen near Ambur.
Based on Kanagaraj’s complaint, Tirupattur police intensified vehicle checks and tracked the car near Ambur.
But the car came to a halt on hitting a wall at Madanur 20 km from Ambur during the chase. Police apprehended Perumal (40) of Arani, Srinivasan (35), and Sataish Kumar (30) both of Vellore, and recovered Rs 25 lakh worth of counterfeit currency.
Based on the information given by the trio, police also arrested Daniel (21), Suresh (21), and Sarath (30) and seized two high-end cars.
