Fake Currency Bust: 6 held at Begum Bazar; 36.35 lakhs fake cash seized

Hyderabad: On Tuesday, six members of a gang involved in circulating fake Indian currency were arrested by the Commissioners Taskforce, East Zone Team along with Begum Bazar Police.

The police recovered currency in 500 denominations amounting to a face value of Rs 36,35,500 (Rs 36.35 lakhs) and printing material, cash worth Rs 28,000 and eight cell phones from them.

Case details

The accused have been identified as Pabbati Murali Krishna (38), Khader Maiden (30), Hitesh alias Mahender Das Vaishnav (30), Dhasharath Kumar Parmar (27), Mali Rajuram (25) and Praveen Kumar Mali (29).

Murali Krishna, the main accused in printing and circulating the currency, has a history of offences. Murali Krishna, a native of Guntur, was arrested in 2018 by Repalle Rural and Kavali Rural police for FICN (Fake Indian Currency Note) crimes. Three cases were booked against him and others.

However, he continued to make and circulate fake notes. In November 2023, he met Khader Maiden, a native of Tamil Nadu and started printing fake Indian currency in a rented room at Patancheru, Sangareddy District.

Murali Krishna supplied the equipment i.e., computer, colour printer, milk-white paper, iron box, green shining label and other incriminating material and started printing and circulating the fake notes. Khader Maideen would manage the distribution. Krishna would give Rs 1 lakh FICN notes for Rs 14,000 to Khader.

Later, Khader approached Hitesh, a resident of Begum Bazar, and explained about making money from circulating fake notes. Khader would give Rs 1 lakh fake notes for Rs 17,000 to Hitesh, in turn, Hitesh used to circulate the same in the open market through Dhasharath Kumar Parmar, Mali Rajuram, Praveen Kumar Mali and others by keeping some commission.

Acting on the tipoff the Commissioners Taskforce, East Zone Team of Hyderabad City along with Begum Bazar Police apprehended the six at Feelkhana, Begum Bazar while they were circulating FICN notes in the open market.

The apprehended persons and the seized property were handed over to SHO Begum Bazar PS for necessary action. A case has been registered and further investigation is on.

Public advisory

The public is advised to look for identification marks on Rs 500 notes issued by the Reserve Bank of India. Report the fake notes to the police or a bank authority immediately on notice. You must be vigilant while dealing in cash to differentiate between genuine and fake money.