Thirteen member-gang involved in circulation of counterfeit currency arrested in Hyderabad

Thirteen members of an interstate gang had counterfeit currency with a face value of Rs. 30.68 lakh and original currency of Rs 60,500.

Hyderabad: Thirteen members of an interstate gang who were allegedly involved in circulation of counterfeit currency notes have been arrested by the Cyberabad police on Tuesday. The Cyberabad police seized counterfeit currency with a face value of Rs. 30.68 lakh and original currency in cash of Rs. 60,500.

The arrested thirteen persons are K Rajesh, Neel Das, A Suman, G Naveen, L Madhu, K V S Kumar Reddy, Rohan Laxman Bhattar, G Naveen, M Uday Bhaskar, P Srinivas, K Tirupathi Rao, Mohd Khateebuddin and Mohammed Azmath. Three others including Suri, Charan Singh and K Ramesh Babu are reportedly absconding.

---

The Cyberabad Commissioner, Stephen Raveendra said following complaints of circulation of fake currency in the market a special team was formed, which worked relentlessly for nearly three months and caught the gang members.

The prime accused Rajesh, who had worked as a dance teacher in Hyderabad came in contact with some persons in Chennai. He took counterfeit currency notes in ratio of 1:5 after paying Suri of Chennai Rs. 60 lakh original currency. After taking fake currency notes with face value of Rs. 3 crore, Rajesh started exchanging it with other small gangs.

“Rajesh and Neel supplied the counterfeit currency in the ratio of 1:3 to small gangs. The gangs in turn circulated the fake currency in markets particularly at liquor shops, fuel stations, pan shops and other petty vendors,” said Stephen Raveendra.

The gang members ensured that the notes were not exchanged during the daytime because it would be easier to identify in the sunlight. “Only after sunset the gangs went to the markets and used the fake notes to purchase goods,” the Commissioner added.

Efforts are currently on to nab Suri and two others to know from where they were getting the counterfeit currency notes and supplying to the others.