Fake currency with face value of Rs 27 lakh seized in Hyderabad, 2 held

Hyderabad, Feb 20:  Hyderabad police have arrested two persons, including a woman, involved in printing and circulation of fake Indian currency notes in Telangana and other states and seized counterfeit money with face value of Rs 27 lakh.

The arrests were made in a joint operation by Commissioner's Task Force, South Zone Team and Chandrayangutta police.

Deputy Commissioner of Police, Crime P. Shabarish told media persons that fake Indian currency notes with face value of Rs 27 lakh and other materials were seized at the instance of accused.

Hassan Bin Hamood, an autorickshaw driver and resident of Falaknuma, Hyderabad and Rameshwari, resident of Kosgi in Narayanpet district have been arrested.

Main accused Kasturi Ramesh Babu of Narayanpet district is absconding.

According to police, Ramesh Babu, 35, working as a car mechanic, faced financial problems due to lockdown and he hatched a plan to earn easy money through illegal means. Gaining knowledge in printing and circulation of fake Indian currency, he procured all materials and printed Indian fake currency and kept in market for circulation. He was arrested by Gopalapuram Police Station in September 2022 and was sent to jail.

While he was in jail, Ramesh Babu met Hamood who was in jail in a murder case and they became close friends. They hatched a plan to circulate fake currency on commission basis. After release from jail, Ramesh Babu and his family shifted to Tandur. Later, he procured raw material for further preparation of fake currency notes along with his sister Rameshwari.

The police officer said Ramesh Babu started printing fake currency denomination of Rs 500 notes and circulated the same in Gujarat. Last month, he was arrested by Gujarat Police in fake Indian currency circulation case and sent to judicial custody. Later, Rameshwari contacted Hamood and shifted all the materials including FICN to Chandrayangutta, Hyderabad for further circulation.

Basing on credible information, the Commissioner's Task Force, South Zone Team, Hyderabad along with Chandrayangutta police apprehended the accused persons and seized fake Indian currency notes.