On Tuesday, Cyberabad police arrested thirteen members of an interstate gang who were allegedly involved in the circulation of counterfeit currency notes. The Cyberabad police seized counterfeit currency worth Rs. 30.68 lakh and original currency worth Rs. 60,500 in cash.
K Rajesh, Neel Das, A Suman, G Naveen, L Madhu, K V S Kumar Reddy, Rohan Laxman Bhattar, G Naveen, M Uday Bhaskar, P Srinivas, K Tirupathi Rao, Mohd Khateebuddin, and Mohammed Azmath are among the thirteen arrested. Three others including Suri, Charan Singh and K Ramesh Babu are also said to be on the run.
According to Cyberabad Commissioner Stephen Raveendra, a special team was formed in response to complaints about the circulation of counterfeit currency in the market, and it worked tirelessly for nearly three months and caught the gang members.
The main accused Rajesh, who had worked as a dance teacher in Hyderabad, met some people in Chennai. After paying Suri of Chennai Rs. 60 lakh in original currency, he took counterfeit currency notes in a 1:5 ratio. Rajesh began exchanging fake currency notes with face values of Rs. 3 crore with other small gangs after obtaining them.
“Rajesh and Neel supplied the counterfeit currency in the ratio of 1:3 to small gangs. The gangs in turn circulated the fake currency in markets particularly at liquor shops, fuel stations, pan shops and other petty vendors,” said Stephen Raveendra.
The gang members made certain that the notes were not exchanged during the day because they would be more visible in the sunlight. “Only after sunset the gangs went to the markets and used the fake notes to purchase goods,” the Commissioner added.
Efforts are currently being made to nab Suri and two others to know from where they were getting the counterfeit currency notes and supplying to the others.
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