Hyderabad: How Rajasthan conmen printed fake currency and cheated moneylenders of Rs 72L
Kanhaiah Lal, engaged in the sliding window business at Kolkatta, used to take hand loans from known persons and return them in short periods.
By Newsmeter Network Published on 2 Feb 2023 5:58 AM GMT
Hyderabad: Commissioner’s Task Force North Zone Team along with Police Nampally have busted a fake currency printing racket and apprehended four people in Hyderabad.
The accused have been identified as Kanhaiyah Lal alias Jatin, Ramavatar Sharma alias Mohan, Bharath Kumar, and Ram Kishan, all hailing from Rajasthan but working in different states. Police have seized Rs.72,50,000 from their possession.
Police said Kanhaiah Lal, engaged in the sliding window business at Kolkatta, used to take hand loans from known persons and return them in short periods.
“Since he was not earning profits from his business, he planned to dupe moneylenders. He decided to print duplicate currency notes bundles with the assistance of Ramavathar Sharma, Bharath Kumar, and Rama Kishan Sharma. Then planned to take hand loans from his known customers in Hyderabad and return duplicate bundles within a week or ten days,” police said.
Police said both Kanahaiah Lal and Ramavathar Sharma took a hand loan of Rs.30,00,000 from Sri Mohd. Younus partner of Hotel Majestic, Nampally. “The accused with the help of Bharath Kumar and Ram Kishan Sharma printed 30 lakh duplicate currency notes, wrapped in a transparent polythene cover, and returned them to him on February 1. The complainant checked the bundles on February 3 and was stunned that he was cheated by the accused,” he said.
On December 26, 2022, Kanahaiah Lal and Ramavathar Sharma took Rs.50,00,000 from Ikon Technologies India Pvt.Ltd, Madhapur promising to return the same two days later.
“Again the accused with the help of Bharath Kumar and Ram Kishan Sharma printed 50 lakh duplicate currency notes, wrapped in a transparent polythene cover, and informed complainant to receive same near Moti Wines, Nampally Railway Station, Hyderabad. T Pradeep Kumar and Sri Prasanth Joshi both met the accused and took currency bundles sealed in a transparent polythene cover. When they checked the notes, they were surprised to see that the notes were fake). Immediately he tried to contact them but their phone numbers were switched off. They informed their Company Management. Further. Company Management tried to but to no avail,” police said.
On receipt of credible information, all were nabbed from Bhaskar Lodge in Secunderabad.
