The Task Force police on Wednesday arrested four persons for circulating fake currency notes and seized counterfeit notes worth `50,000 of `1,000 denominations from their possession.
The accused were identified as Ali Shaik (31), a resident of New Mallepally; Mohammed Javeed(34), a meat shop owner and a resident of Naaz Complex, Agapura; Mohammed Raheem (24), a meat vendor and a native of Mustaidpura and Mohammed Salman (20), an auto driver and a resident of Heera Khana, Golconda.
According to the police, Ali Shaik, who runs a water supply business, procured fake currency notes worth `1 lakh from one Sai Kiran some 11 month ago.
He handed over the notes to Javeed who has a meat shop in Vijayanagar Colony.
“Javeed gave the counterfeit notes along with genuine notes worth Rs 40,000 to his nephew Raheem to exchange them in the market.
Salman introduced Maisan, a resident of Moghalpura and Moin, who lives in Charminar area, to Raheem.
Raheem gave fake notes worth Rs 10,000 to Maisan and Rs 5,000 to Moin to exchange them,” said P Rameshaiah, additional DCP, Task Force