Mehdipatnam Police Busted Fake Currency Racket, Eight People Arrested
- Police seize fake currency and trace key suspects
- DCP details how fake notes moved through the network
Hyderabad: Fake currency racket has been busted by the Mehdipatnam police, who arrested eight persons accused of preparing and circulating counterfeit Indian notes. Police said they seized fake currency with a face value of Rs 4.75 lakh along with a car, three motorcycles and nine mobile phones. The arrests took place on Thursday.
According to G Chandra Mohan, DCP (south west), the prime suspect, Kasthuri Ramesh, prepared fake currency notes of Rs 500 denomination. He then circulated the notes through the other accused. The DCP said Ramesh used a scanner and printer to make the notes. He also said Ramesh shared a video on Instagram to promote fake currency exchanges. “Ramesh posted a video on Instagram about fake currency note exchange. He issued four fake currency notes of Rs 500 denomination in exchange for one genuine note of Rs 500,” he said.
The DCP added that the video drew attention from Abdul Waheed and Omer Khan. They contacted Ramesh and collected the fake notes from him. Later, the two men exchanged the notes in a 1:3 ratio with Mohd Sohail and Mohd Fahad. Afterwards, the chain continued when Syed Altamash Ahmed took the notes in a 1:2 ratio.
Police said the racket came to light after Altamash was caught. During questioning, he revealed the names of the others. Therefore, police traced the entire network and arrested all eight men. The arrested persons are Kasthuri Ramesh, Abdul Waheed, Mohd Abdul Khadeer, Mohd Sohail, Mohd Fahad, Shaik Imran, Omer Khan and Syed Altamash Ahmed.
The DCP said the fake currency racket moved through several hands before reaching the market. Meanwhile, officials said further investigation is underway to identify any more links.
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