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Wednesday, Jan 21, 2004

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Fake currency racket busted

By Our Staff Reporter

HYDERABAD, JAN. 20. The Begumbazar police on Tuesday arrested seven persons, including a student, on charge of circulating fake currency notes. The alleged kingpin behind this fake currency racket, Khalid, a resident of Dabeerpura in old city, was already arrested by the Nizamabad district police a few days ago. A scanner, printer and Rs. 40,000 worth fake currency was seized from him.

Investigations revealed that all the seven were acting as agents for Khalid in circulation of the fake currency notes of Rs. 100 denomination. Majority of the arrested hailed from Gujarat and were running cosmetics and novelties shops in Hyderabad. The racket was busted when one of the arrested, Jai Prakash (19), was caught by a chat bhandar owner at the ongoing Industrial Exhibition.

A resident of Kachiguda, Jai Prakash, came to the Exhibition along with a friend, Vishal Lodia (20) of Shankarbagh in Begumbazar. The shop owner grew suspicious when the duo gave a couple of Rs. 100 notes to pay a bill. After confirming they were fake notes, the shop workers caught Jai Prakash, while Vishal managed to flee. A native of Bangalore, Jai Prakash, was studying ninth class at a school in Kachiguda. Based on the confession of Prakash, the other accused, Vishal, B. Suresh, Prakash Khatri, Mahender, Gopal and Harish were arrested. The arrests were made by Sub-Inspector, Ch. Kushalkar.

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