Hyderabad police bust fake currency racket, seize Rs. 36,35,500 in counterfeit notes

HYDERABAD: The Commissioners Taskforce, East Zone Team, along with Begum Bazar police, has busted a gang involved in circulating fake Indian currency notes. The gang, comprising six members, were apprehended, and the police seized fake Indian currency notes worth Rs. 36,35,500, along with printing materials, a net cash amount of Rs. 28,000, eight cell phones, and a Bajaj Platina Bike from their possession.

The mastermind behind the gang, Pabbati Murali Krishna from Guntur, had previously been arrested by Kavali Rural police station, Indukurpet, and Thenali Rural for printing and circulating fake Indian currency notes. Three cases were filed against him and his associates. In November 2023, Krishna joined Khader Maideen from Tamil Nadu, who was involved in the household articles installment business.

They established a printing operation for counterfeit Indian currency in a rented room located in Patan Cheru, Sangareddy district. Krishna acquired the necessary equipment, including a computer, color printer, milk-white paper, iron box, green shining label, and other incriminating materials, and began printing and circulating fake Indian currency through Maideen.

He sold Rs. 1 lakh worth of fake currency to Maideen for Rs. 14,000. Maideen then enlisted the help of Hitesh, also known as Mahender Das, a resident of Begum Bazar, who repaired cookers and mixers. After discussions, Hitesh agreed to participate in the circulation of fake currency. Maideen sold Rs. 1 lakh worth of fake currency to Hitesh for Rs. 17,000. Hitesh distributed the currency in the open market through individuals like Dhasharath Kumar Parmar, Mali Rajuram, Praveen Kumar Mali, and others, earning a commission in the process.

Based on a tipoff, the Commissioners Taskforce, East Zone Team of Hyderabad City, along with Begum Bazar police, apprehended six accused individuals at Feelkhana, Begum Bazar, who were involved in circulating fake currency notes in the open market.

The apprehended individuals, along with the seized property, were handed over to the SHO of Begum Bazar police station for further action.

The police advised the general public to check for visible identification marks on Rs. 500 denomination notes issued by the Reserve Bank of India. The police encouraged to report any instances of receiving fake Indian currency notes to the police or bank authorities. It is essential to remain vigilant while dealing in cash to distinguish between genuine and fake currency notes.