HYDERABAD: Cyberabad police on Thursday arrested four persons including two engineering students for allegedly circulating fake Rs 2,000 currency notes in the college canteen.
According to reports published in Deccan Chronicle, 40-year-old Vijay Sharma, a jeweller from Bowenpally, and his 45-year-old friend Mohtesham Ali Khan, an executive at Bajaj are said to be the masterminds of the scam.
In order to clear debts, Vijay and Mohtesham purchased a colour printer-cum-scanner, other material used in printing the notes and duplicated Rs 2,000 currency notes worth over Rs 35 lakh at home.
They planned to circulate counterfeit currency by taking the help of Wajeehuddin Khan and his friend Abdul Samad, both 20, students of a private Engineering College.
Upon investigation, it was revealed that Mohtesham lured his nephew Wajeehuddin Khan with a commission of 10,000 for circulating one lakh in fake currency.
Wajeehuddin together with Samad twice spent the fake notes but on the third time, the canteen in-charge became suspicious on noticing the same serial number of ‘939084′ and alerted the police.
The police on Thursday morning raided the college canteen and caught the gang red-handed.
Police seized Rs 20.76 lakh from Mohtesham, Rs 12.18 lakh from Vijay, Rs 1.02 lakh from Samad and Rs 1 lakh from Wajeehuddin.
Wajeehuddin’s father is HOD of the forensic medicine in Osmania Medical College.
All four is currently under police custody and sent to remand. An investigation is under progress.