Hyderabad: Four persons of a gang were arrested for attempting to circulate counterfeit currency notes and dupe people in the city by Kalapathar police on Thursday, August 10.
The police seized fake currency with a face value of Rs 69.04 lakh and four mobile phones from the possession of the accused.
According to DCP South Zone, P Sai Chaitanya, the arrested persons who have been identified as Zahid Khan, 45, a native of Bhavaninagar, Mohd Rayeezuddin, 46, of Tadban, Mohammed Anwar, 36, of Kalapather and Mohammed Muneer Ali, 40, of Chandrayangutta, formed a gang and conspired to dupe people with counterfeit currency.
“The prime accused Zahed had obtained fake currency notes from Naveeduddin. The currency notes have ‘Children’s Bank of India’ printed on them and the gang had planned to put fake currency notes in between real currency and hand over the bundles to businessmen at crowded shops,” DCP Chaitanya said.
“On a tip-off, a police team caught them and seized the fake currency notes,” the official added.
The police formed a special team to track down Naveeduddin and further investigation is underway to get information about the main source of the counterfeit currency.
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