Two major counterfeit currency printing gangs were busted by the Hyderabad police on Tuesday with sleuths of the Commissioner's Task Force - North Zone and South Zone -- making arrests.
The North Zone team seized counterfeit currency of about Rs. 9,27,000 and other incriminating material after receiving credible information that some persons were circulating it at Jagdish Market in Abids.
They laid a trap and caught three suspect persons circulating counterfeit currency notes of Rs 100 and Rs 200 denomination.
On further investigation, the North Zone team apprehended a larger gang who were printing and circulating counterfeit currency from Sangareddy Town.
The accused have been identified as Ishaq Bin Saleh, Bandari Gowtham, Mohd Sohail Ali, Mohd Ghousiuddin, Abrar Khan, Syed Kashif, and three juveniles in conflict with law.
Besides the counterfeit currency, the investigation officials also seized sheets of the currency which were yet to be cut, besides six mobile phones, one scanner cum printer, one paper cutting machine, a motorbike and Rs. 10,500 in cash.
Police said that the accused hatched a plan to gain easy money illegally and watched YouTube videos about printing of counterfeit currency notes, before they began their operations. The accused persons were handed over to the Abids police for further investigation.
Meanwhile, the South Zone team of the Commissioner's Task Force unearthed a similar fake currency racket under the jurisdiction of Asif Nagar police and arrested four people.
The accused were identified as Shiva Sandeep, Akbar Pasha, Mohammed Moin, and Mohammed Raziuddin.
Police seized Rs 8.5 lakh in fake Indian currency notes, besides one laptop, a printer cum scanner, six mobile phones and other items.