Hyderabad: Fake currency worth Rs 27 lakh seized; 2 arrested

Hyderabad: Two people were arrested in a joint operation by the Commissioner’s Task Force (South Zone) and the Chandrayangutta Police on Monday for their alleged involvement in printing and circulation of Fake Indian Currency Notes (FICN) in Telangana and other states.

During the operation, the police seized as many as Rs 27 Lakhs worth of fake currency notes in total and other materials from the accused.

Kasturi Ramesh Babu, the prime accused is a car mechanic and is native of Kosgi, Narayanpet district. During the lockdown, he fell into a financial crisis and decided to earn money through illegal means.

He learnt about printing and circulation of fake Indian currency notes and procured all materials and printed Indian fake currency and kept it in the market for circulation. Meanwhile, he was arrested by Gopalapuram Police Station in September, 2022 and was sent to jail.

While he was in jail, Ramesh Babu met with Hassan Bin Hamood who was lodged in jail in a murder case at Bahadurpura Police station.

Soon after the release from jail, Ramesh Babu and his family shifted to Tandur. He then procured raw material for further preparation of fake currency notes along with his sister Rameshwari. Ramesh started printing fake currency denominations of Rs. 500/- notes and circulated the same in Gujarat.

Further, in the month of January, 2023 Ramesh Babu was arrested by Gujarat police in FICN and remanded to judicial custody. Later, Rameshwari contacted Hassan Bin Hamood and shifted all the materials including FICN to Chandrayangutta for further circulation.

Hassan Bin Hamood and Rameshwari have been arrested while Kasturi Ramesh Babu is currently absconding.

“On receiving information about the racket, the Commissioner’s Task Force, South Zone Team, along with Chandrayangutta Police apprehended the accused persons and seized Fake Indian Currency Notes of Rs. 27 Lakhs and other material” said DCP (Crimes) P Shabarish.