Five held for printing and circulating fake Indian Currency Notes
A racket of printing and circulating Fake Indian Currency Notes (FICN) was busted by police here on Thursday who took into custody five members of a gang in this connection.
The racket is believed to have been operating for the past two months from Siddipet town of Telangana. Police seized counterfeit currency notes with a face value of Rs 16 lakh from the possession of the five gang members.
They were nabbed near Yousufguda check post where they came with the fake notes to sell them to needy customers, Hyderabad Police Commissioner Anjani Kumar said.
The gang was printing and circulating counterfeit currency notes of Rs 500 and Rs 200 denomination, police said, adding they also seized one printer-cum-scanner and a laptop.