Hyderabad, February 14: Fake currency printed in Pakistan, routed into the country through the Indo-Bangladesh border, landed in the hands of three persons who were caught by the Hyderabad city police on Saturday.
The accused have already managed to circulate Rs 65 lakh fake currency while the police seized bogus notes worth Rs 6.5 lakh. The accused have been identified as A Narendra Kumar Reddy, Syed Hussain and Maqbool Hussain, all hailing from Kurnool district.
‘‘During the course of investigation, we have learnt that the accused have already circulated Rs 65 lakh fake currency since April 2010.
They have circulated the currency in Hyderabad, Kurnool and Kadapa districts,’’ additional commissioner of police (co-ordination) AR Anuradha told at a press conference on Saturday.
Police said Narendra and his associates approached one Palakollu Kumar, of West Godavari who used to procure fake currency notes from one Kabir Hussain, from Mohabatpur, Bangladesh. “Narendra and his associates used to buy fake currency in the ratio of 1: 3 from Kumar,’’ police said.
Police suspect that Pakistan’s Inter Services Intelligence (ISI) is actively involved in printing highly sophisticated Fake Indian Currency Notes( FICN) in higher denomination — Rs 500 and Rs 1000 — and is circulating it in India to destabilize the economy.
Even earlier, the CP’s Task Force, in a special operation in the year 2007 and 2008, seized more than two crores FICN which were printed in Pakistan. Police said investigation and efforts are on to nab few more involved.
–Agencies