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With the arrest of three persons, the Hyderabad police on Wednesday claimed to have busted a counterfeit currency racket linked to Pakistan.
The police seized counterfeit Indian currency of the face value of Rs 9 lakh in denominations of Rs 1,000 and Rs 500. A two-wheeler and three mobile phones were also seized.
The arrested include Mohammed Aqeel Marfani alias Aqeel, who was smuggling the counterfeit Indian currency from Dubai through his maternal uncle Mohd. Yaseen, a native of this Indian city but currently residing in Karachi, Pakistan.
According to police, Aqeel (26), a resident of Moghalpura here, was trying to circulate the fake currency in Hyderabad through Ghiyas Mohiuddin (26) and Taufeeq Ahamed (27), also residents of the old city of Hyderabad.
Deputy Commissioner of Police B. Limba Reddy said Aqeel, who went to Dubai last year and was working as a carpenter, met his uncle Yaseen, living in Karachi.
As Aqeel was in need of money, Yaseen offered him a deal to circulate counterfeit Indian currency of face value Rs 9 lakh in Hyderabad. Aqeel demanded a share of Rs 3 lakh, to which his uncle agreed.
On October 3, Aqeel brought the fake currency notes to Hyderabad concealed in a bag, which the airport authorities failed to detect.
Aqeel then contacted his friend Ghiyas and through him Taufeeq for circulating the fake currency.
On a tip-off, when Aqeel and Ghiyas reached Secunderabad to hand over the notes to Taufeeq, the police arrested them.
The police said the possible involvement of other people and links with other places were being investigated.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)