Police arrests four persons; Seized Rs.2.36 crore fake currency
Hyderabad, August 25, 2007The officials of Intelligence department on a tip off raided a house in Salal Barkas of old city on Saturday and arrested four persons including a Dubai national and seized counterfeit currency worth Rs.2.36 crore.
The Hyderabad Police Commissioner, Balwinder Singh said to media that an organized gang with possible help from abroad, could be behind the circulation of the counterfeit currency. He confirmed that the city police busted an international racket of smuggling sophisticated fake Indian Currency from Pakistan and Dubai.
The Commissioner said that the Dubai national, Alkaz Khamis Obaid Khamis Ali has relatives in the old city and came in contact the deal, 60 percent genuine money procured with the circulation of fake currency was supposed to be sent to Dubai through hawala. All the fake currency notes were in the denominations of Rs.500 and Rs.1000. He added that they were sent to India in three consignments viz., Rs.19 lakh, Rs.55lakh and Rs.1.82 crore in that order through sea cargo. The last load was concealed in scrap paper and shipped to Mumbai from there is was brought to Hyderabad. He further said that the consignments were booked by West India Import and Export Company, a fake firm flouted by one of the arrested, Hyderabadi Khaled Bin Saleh, purely to smuggle the counterfeit currency into the country.
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