Khammam: Telangana Police on Saturday nabbed five persons who were in possession of more than Rs 6 crore fake currency notes. The search for two more accused is underway.
“Five persons including the prime accused Shaik Madar were cheating the public in the guise of exchanging fake two thousand rupees notes and offered 20 per cent commission in return,” said Commissioner of Police Tafseer Iqbal.
In addition to fake currency notes amounting to Rs 6.4 crore, Rs 90,000 in original currency were also seized.
The Commissioner of Police said that the accused collected fake Rs 2,000 denomination notes and placed original Rs 2000 denomination on top and bottom of the bundles.
“The accused offered them Rs 1 lakh in Rs 2000 denomination in exchange of Rs 80,000 in Rs 500 denomination notes,” the Commissioner of Police said.
“So far, only six victims approached us and we are expecting more people will approach us in the coming days,” he added.