Hyderabad, April 14 (Maxim News): Chaderghat Police arrested a man for circulating counterfeit currency and seized fake notes worth ₹94,000.
The accused, Ahmed Pasha, a resident of Chandrayangutta, allegedly planned to circulate the fake currency as genuine.
Police registered a case under relevant sections of the Bharatiya Nyaya Sanhita. The action followed a complaint from Kotak Mahindra Bank officials in Malakpet, said SHO Chadergaht in a press note
The bank detected fake ₹500 notes during routine verification in its cash recycler machine.
According to officials, the bank identified 10 counterfeit notes worth ₹5,000 using UV lamps and sorting machines. Therefore, staff immediately alerted the police.
The complaint triggered a detailed investigation into the source of the fake currency.
Investigation Traces Source and Larger Network
During the probe, police found that the counterfeit notes were deposited into an account linked to Ahmed Pasha. The deposit took place on March 27. Subsequently, officers tracked and arrested the accused.
During questioning, he admitted that he procured fake currency through social media contacts. Moreover, he revealed that he collected counterfeit notes worth ₹94,000 at Shadnagar. He intended to circulate them in local markets.
Police recovered the remaining ₹89,000 in fake notes from his residence.
In total, they seized 178 counterfeit ₹500 notes. Furthermore, technical analysis indicated that the supplier may be operating from Gujarat.
Officials said efforts are ongoing to trace and arrest the main supplier. Meanwhile, the investigation team is examining digital links and communication records.
Authorities aim to uncover the wider network behind the racket.
Senior officers supervised the operation and confirmed that the case remains under active investigation.
Police also urged the public and businesses to verify currency carefully and report suspicious transactions promptly. (Maxim News)
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