Hyderabad cops bust gang trading fake notes; currency worth Rs 69 lakhs seized
The gang were caught red-handed when they were trying to dupe people into exchanging fake notes with original currency at Mochi Colony under Kalapathar PS limits.
By Newsmeter Network Published on 10 Aug 2023 2:52 PM GMT
Hyderabad: The sleuths of Kalapathar Police Station of Hyderabad Police Commissionerate apprehended a gang of four members and seized counterfeit notes of Rs 2,000 denomination with an apparent worth of Rs 69,04,000 (more than Rs 69 lakhs).
They were caught red-handed when they were trying to dupe people into exchanging fake notes with original currency at Mochi Colony.
The accused were identified as Khaja Naveeduddin, Shinde, Zahed Khan, Md. Rayeesuddin, and Mohammed Muneer Ali.
On Wednesday, D Srinivasulu, Kalapathar Police Station SI, received credible information that the four accused were trying to exchange fake notes with original currency. He and his team then went to Jama Masjid, behind Tadban in Mochi Colony and found the four in the middle of a trade.
They brought them to the police station along with a polythene bag containing the counterfeit notes ā 34 bundles of Rs 2,000 with 100 pieces per bundle, and one bundle of Rs 2,000 with 52 pieces. The notes had āChildren Bank of Indiaā printed on them. Their apparent value totalled Rs 69,04,000.
Upon interrogation, Zahed Khan revealed that he and Khaja Naveeduddin started this plan to earn easy money. Khaja sent counterfeit currency notes to Zahed Khan through Shinde and Zahed and others organised exchanging the currency with the public and earn original notes in the process.
