Counterfeit currency racket busted
Hyderabad, Feb 12 (INN): Task Force sleuths on Saturday revealed that they have succeeded in busting an international organized racket of smuggling sophisticated fake Indian currency from Pakistan via Bangladesh-West Bengal border. According to the police, three persons were held and seized Rs 6.5 lakh fake currency notes of Rs 500 and Rs 1,000 denominations, besides one car and two cell phones were recovered from their possession.
The accused have been identified as Akula Narendra Kumar Reddy, Syed Hussain and Maqbool Hussain. They all hail from Kurnool district. The police further revealed that Narendra Kumar Reddy was introduced to one D Santha Kumar of Palakollu, West Godavari District, who is an agent working on commission basis with Shafi Hussain and Amir Hussain of Malda in West Bengal. The duo has been procuring Fake currency from one Kabeer Husssain of Mohabatpur of Bangladesh at the ratio of 1:3, by illegally crossing the borders.
Narendra Kumar Reddy and his associates joined hands with Palakollu Kumar and procured Rs 65 lakh fake Indian currency notes in the denomination of Rs 500 and Rs 1000 from April, 2010 to August, 2010 and successfully circulated the same in Andhra Pradesh at various places.
In the second week of September, 2010, Siddavatam Police of Kadapa Dist nabbed Seelam Jagadish and Madhava Reddy, the two associates while trying to circulate the Fake Currency, whereas Narendra Kumar Reddy managed to escape. Since then he shifted his base to Ramanthapur area and circulated Rs 50,000 fake currency in the area.
Task Force West Zone Team apprehended the three accused persons, while they were trying to circulate Fake Currency, near Sarojini Devi Eye Hospital, Mehdipatnam and recovered Rs 6.5 lakh fake currency and one car from their possession.
The accused Narendra Kumar Reddy is a wanted accused in 2 Fake currency cases of Siddavatam PS of Kadapa district and Banaganapally PS of Kurnool district. The arrested persons were handed over to SHO, Humayun Nagar Police Station for further action. Efforts are going on to apprehend the other accused persons.
News Posted: 12 February, 2011
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