Thirteen members of an interstate gang were holding counterfeit notes of Rs. 306.8 lakhs and Rs 60,500 in original currency.
Posted on – Tue, 25 Apr 23 at 05:46pm
FILE PHOTO: Cyberabad Police Chief Stephen Raveendra
Hyderabad: On Tuesday, Cyberabad police arrested 13 members of an interstate gang suspected of being involved in the circulation of counterfeit banknotes. Cyberabad police have seized counterfeit notes worth Rs 10 lakh. 306.8 lakhs and original currency cash Rs. 60,500.
The thirteen arrested were K Rajesh, Neel Das, A Suman, G Naveen, L Madhu, KVS Kumar Reddy, Rohan Laxman Bhattar, G Naveen, M Uday Bhaskar, P Srinivas, K Tirupathi Rao, Mohd Khateebuddin and Mohammed Azmath. Three others, including Suri, Charan Singh and K Ramesh Babu, are reported to be on the run.
Cyberabad Commissioner Stephen Raveendra said a task force formed after receiving complaints of counterfeit money circulating in the market worked tirelessly for almost three months to capture the gang members.
Rajesh, the lead accused who worked as a dance teacher in Hyderabad, had contact with some people in Chennai. He took the counterfeit notes at a ratio of 1:5 after paying Chennai Rs. 6 million original currency. After taking away the counterfeit banknotes with a face value of Rs. 3 crore, Rajesh starts swapping with other small gangs.
“Rajesh and Neel are supplying counterfeit money to small gangs at a ratio of 1:3. These gangs in turn circulate counterfeit money in the market, especially in liquor stores, gas stations, pan shops and other small vendors,” said Stephen Raveendra.
Gang members pledged not to exchange banknotes during the day, as they were easier to read in sunlight. “Only after sunset did the gangs go to the market and buy goods using counterfeit notes,” the commissioner added.
Efforts are underway to catch Suri and two others to understand where they obtained the counterfeit notes to supply to others.
