Andhra Pradesh - Hyderabad   

Fake currency ‘worth’ Rs. 3.15 lakh seized

HYDERABAD: Next time you get currency notes of Rs. 500 denomination in any transaction, make sure they are genuine.

The Commissioner’s Task Force (South) officials on Tuesday caught two persons who confessed to have circulated Rs. 5.85 lakh fake currency notes - all in Rs. 500 denomination - in Hyderabad over the past three months. The worrying factor is not the Rs. 5.85 lakh fake currency notes already in circulation. The evidence that they were printed in high quality printing presses in Pakistan as part of the ISI’s plan to destabilise the Indian economy is what is keeping the police on tenterhooks.

The police are not yet sure if more gangs akin to that of Qureshi, 36, and Khan, 26, are operating fake currency rackets and had already circulated huge volumes of counterfeit currency notes.

The arrest of Qureshi and Khan raised these apprehensions since the fake currency bundles having a ‘face value’ of Rs. 3.15 lakh seized from them were almost similar to those fake notes recovered after busting an international currency racket in 2007.

The police seized fake currency bundles valued at Rs. 2.30 crore then which were printed in Pakistan. In the latest case, the arrested duo told the police that they secured counterfeit currency notes having ‘face value’ of Rs. 9 lakh by paying Rs. 4.5 lakh genuine currency to one Sunil of Nizamabad district.

Investigators are on the lookout for Sunil and are trying to find out if there is a link between the Pakistan’s ISI-backed counterfeit currency racket busted two years ago and him.

The arrested persons, along with the seized material, were handed over to the Chandrayanagutta police for further investigations.

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