Police arrested five members of the gang including a juvenile
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Hyderabad: The Chatrinaka police busted a fake currency racket on Monday. Police arrested five members of the gang including a juvenile and seized fake currency worth Rs 1,54,000 in denominations of Rs 500 and Rs 38,010 original currency and four mobile phones from them.
Police said the kingpin Govind Kumar Singh, 21, is an ice cream seller, while the other three accused are students. Mane Dinesh, 20, is a B.Com computers student and Ganesh Irlewad, 20, is studying Intermediate second year Koti, while Koyale Namdev, 20, is studying Intermediate. Govind procured counterfeit currency from an agent in New Farakka of West Bengal at an exchange ratio of 1:2.
He befriended the other three and lured them for exchanging the fake currency. “They exchanged these fake notes in busy shopping areas like Koti, Charminar and Secunderabad. The students used to get a commission of Rs 100 for exchanging Rs 500,” said Falaknuma ACP M.A. Bari.
( Source : deccan chronicle )
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