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Hyderabad: Fake currency worth Rs 17.7 lakh recovered, 13 arrested

Thirteen persons were apprehended and counterfeit currency worth Rs 17.7 lakh was recovered, police said.

By: Express Web Desk | Hyderabad |
Updated: February 4, 2020 10:41:21 pm
Hyderabad : Fake currency worth Rs 17.7 lakh recovered, 13 arrested The Hyderabad City Police on Tuesday busted two gangs involved in printing and circulating Fake Indian Currency Notes (FICN) in the city. (Representational Image)

The Hyderabad City Police on Tuesday busted two gangs involved in printing and circulating Fake Indian Currency Notes (FICN) in the city. Thirteen persons were apprehended and counterfeit currency worth Rs 17.7 lakh was recovered, police said.

Hyderabad police commissioner Anjani Kumar told the media that a four-member gang was busted and counterfeit currency worth Rs 8.5 lakh was recovered by the Asif Nagar police and the South Zone task force, and another 9-member gang was busted by Abid Road police and the North Zone task force and counterfeit currency worth Rs 9.27 lakh was recovered.

The kingpin of the 9-member gang, Ishaq Bin Saleh (33), is involved in the sale of steel utensils in Sangareddy town. According to police, Saleh, who has studied till class 10, along with Bandari Gowtham, a diploma holder in Computer Science, hatched a plan to print counterfeit currency.

The two of them watched YouTube videos on printing counterfeit currency and trained themselves using scanner-cum-printer machines. In March 2019, they started printing currency notes of denomination Rs 100, Rs 200 using original notes as a specimen and subsequently started circulating the fake notes in Sangareddy, Zaheerabad, Sadashivpet, and Hyderabad, police said in a statement.

Based on a tip-off, one Syed Kashif along with two juveniles was apprehended on Tuesday while circulating fake notes at Jagdish market in Abids, Hyderabad. The police, thereafter, apprehended six other accused and three juveniles.

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