Black money exchange racket busted in Hyderabad
The arrested persons were Mohd Azeez alias Azam (35), a realtor from Karkhana Galli in Karimnagar, Mohd. Anwar Pasha ( 38), a driver from Peddapally district, T.Subhash Chandra Bose (41),
Hyderabad: The Keesara police busted a black money exchange racket based in Karimnagar and caught five persons at Shamirpet on Saturday. Fake currecny with a face value of over Rs.1 crore, genuine currency worth Rs 1.3 lakh, a car and other material were seized.
The arrested persons were Mohd Azeez alias Azam (35), a realtor from Karkhana Galli in Karimnagar, Mohd. Anwar Pasha ( 38), a driver from Peddapally district, T.Subhash Chandra Bose (41), a Telugu film production manager from Sanathnagar, M.Nagaraju (28) a driver from Abdullapurmet, and J.Bhagya Laxmi (40), a private hospital nurse from Karimnagar. Two suspects, Ravinder Singh and Rajesh, were absconding.
Police said Azeez was jailed four times earlier in Karimnagar for similar offences. According to the police, last month Bhagya shared the idea of exchanging black money and making money out of it, and Azeez got in the others to join them in the racket. Bose arranged fake currency notes with the face value of Rs.1 crore with the help of an art director from Krishna Nagar in Yousufguda after introducing Azeez as an ad film director who needed fake currency. Anwar Pasha, a junior artiste, arranged a police uniform while Bhagya and Ravinder Singh were given the task of getting clients, said Mahesh Bhagwat, Police Commissioner, Rachakonda.
Bhagya met the complainant N. Raji Reddy and told him that in December this year, the Rs.2000 denomination currency would also be banned and some wealthy persons wanted to exchange their black money. He was told that he would Rs.5 lakh for every Rs 1 lakh of legal tender. In the first week of September, Reddy met them with Rs 5 lakh near the Shamirpet ORR.
“Before he reached, Azeez dropped Anwar, Nagaraju and Rajesh at a secluded spot on the outskirts of Keesara. Nagaraju was instructed to act as a police officer in uniform with the other two in mufti. After meeting Reddy, Azeez and Subhash took him in their car with the cash bag pretending that the party was waiting with the black money for exchange.
“When they reached the spot, Nagaraju and the other two stopped the car acting as cops, and the gang left Reddy at the spot and fled the spot with the cash. Reddy, who initially did not approach the police fearing the consequences, finally lodged a complaint on Thursday, after which the Keesara police nabbed the gang.
