Hyderabad: Seven held for foreign exchange currency frauds

Hyderabad: Seven members of an inter-state gang wanted in foreign currency exchange frauds have been arrested in Hyderabad, police said on Wednesday.

The Commissioner’s Task Force’s North Zone Team apprehended the accused hailing from Delhi, Bihar. and Uttar Pradesh and handed them over to Bowenpally Police Station.

They include two women.

According to police, the gang was cheating people by offering dirhams in exchange for Indian rupees at a low exchange rate.

Explaining their modus operandi, Deputy Commissioner of Police B. Sreebala said that the accused were approaching small businessmen with dirhams for currency exchange to Indian rupees at a low exchange rate.

After luring the victims, the gang was asking them to bring the Indian rupees to a crowded public place.

After collecting Indian rupees, they hand over a bundle of dirhams. The accused were keeping a few dirhams notes on top of the bundle but the remainder of the bundle was filled with folded newspapers.

After showing dirhams on top of the bundle to the victims, the accused were cautioning the victims not to open the bundle in a public place and then escaping from the spot.

Two cases were registered against the gang at Bowenpally and Trimulgherry police stations.

The accused confessed to another offence in Sangareddy.

The accused are Mohd Imran Shaik, Mohd Sirajul Islam, Wahid Shaik, Hasim Alam, Kulsum, Mohammed Ali Shaik, Nisha, and Shaik Nisar Ahmed. Police recovered Rs.7.47 lakh cash and a two-wheeler from the accused.