The Hindu : Fake currency racket busted

Online edition of India's National Newspaper
Thursday, Feb 05, 2004

Andhra Pradesh

Andhra Pradesh

Fake currency racket busted

By Our Staff Reporter

HYDERABAD, FEB.4. The Saifabad police on Wednesday busted a fake currency racket and arrested three persons involved in it. The police also seized 31 bundles of fake currency, Rs. 55,000 in cash, and an electoral card from them.

The three arrested -- Mohd. Heera, resident of Muradnagar and native of Bihar, Gangi Reddy and Dhana Reddy of Palvancha in Khammam district -- were sent to judicial remand while efforts were on to apprehend Anwar, the alleged kingpin behind the racket. Police said Gangi Reddy and Dhana Reddy were lured by Anwar with providing counterfeit currency three times the original money, when they came in contact with him in Bhadrachalam. The duo came to the city carrying a cash of Rs. 55,000 and contacted Anwar, police said.

Anwar, in an apparent bid to cheat them arranged two fake cops, who raided the place where they were exchanging the money at a lane near Golkonda hotel. Sensing something fishy the duo ran away and they were chased by Mohd. Heera, an associate of Anwar. On hearing the commotion local people caught hold of them thinking they were thieves and informed the Rakshak mobile team. Police said the team used the similar method of keeping original notes on the top while placing white sheets in between the bundles.

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Andhra Pradesh