Interstate Ring Masterminds Busted for Dirham Exchange Gang in Hyderabad

Hyderabad, December 20 (Maxim News): In a swift crackdown, the Commissioners Task Force, North Zone, apprehended seven members of a cunning interstate gang involved in a sophisticated foreign currency exchange fraud.

The accused, hailing from Delhi, Bihar, and Uttar Pradesh, targeted unsuspecting small-business owners with a tempting proposition: Dirhams at unbeatable rates.

The modus operandi was slick. After luring victims with the “low exchange rate” baitthey asked them to bring the Indian rupees to a crowded public place, the gang instructed them to meet in busy public areas. There, amidst the bustle, they exchanged the Indian rupees for a seemingly hefty bundle of Dirhams.

What the victims didn’t realize until later was that most of the “currency” was cleverly replaced with folded newspapers, cleverly concealed within a few real Dirham notes. By warning the victims against opening the bundle in public, the gang ensured their escape.

But their luck ran out today. The eagle-eyed North Zone team, led by Inspector L. Bhaskar Reddy and Sub-Inspectors B. Ashok Reddy, P. Gnanadeep, and G. Naveen, netted the entire seven-member gang. This successful operation not only brought justice but also served as a wake-up call for the public. (Maxim News)

Police Advise:

• Beware of tempting foreign currency exchange offers, especially with “unbeatable rates.”
• Always report suspicious encounters to the nearest police station.

The arrested individuals, along with the seized cash (Rs. 7,47,000) and Bajaj Discover motorcycle, have been handed over to the Bowenpally Police Station for further legal proceedings.

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