Gang planning to circulate fake currency notes held in Hyderabad

The police seized counterfeit currency notes with a face value of Rs 69.04 lakh and four mobile phones from them

Hyderabad: A four member gang which was allegedly planning to circulate counterfeit currency notes in the city and cheat people was arrested by the Kalapather police on Thursday. The police seized counterfeit currency notes with a face value of Rs. 69.04 lakh and four mobile phones from them.

According to P Sai Chaitanya, DCP (south) the arrested persons – Zahed Khan (45) of Bhavaninagar, Mohd Rayeezuddin (46) of Tadban, Mohammed Anwar (36) of Kalapather and Mohammed Muneer Ali (40) of Chandrayangutta along with Shinde and Khaja Naveeduddin, who are absconding formed into a gang and conspired to cheat people. The currency notes have ‘Children’s Bank of India’ printed on it and the gang wanted to put fake currency notes in between genuine currency notes and hand over the bundles to businessmen at crowded shops.

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“Zahed collected the fake currency notes from Naveeduddin, the latter along with other arrested persons were planning to circulate it in the market and cheat people. On a tip off, a police team caught them and seized the fake currency notes,” said the official.

The police are making efforts to nab Naveeduddin, who had supplied to fake currency notes to Zahed. “A special team is tracking him down. After we get him, we can know more about the racket and the source of the counterfeit currency,” said the DCP.