HYDERABAD: The Commissioner’s Task Force, East Zone team, along with Begum Bazar police, apprehended a six-member gang in connection with a fake currency notes circulation case on Tuesday. The operation resulted in the seizure of fake Indian currency notes amounting to Rs 36,35,500, printing materials, and several mobile phones.
According to Task Force DCP Rashmi Perumal, Pabbati Murali Krishna is the main accused identified in printing and circulating the fake notes. Khader Maiden is the middleman, Hitesh alias Mahender Das Vaishnav is the main circulator, Dhasharath Kumar Parmar and Mali Rajuram are the circulators including Praveen Kumar Mali.
Pabbati Murali Krishna, the ringleader of the gang, had a history of arrests for printing and circulating fake currency. He was previously arrested by police stations in Kavali Rural, Indukurpet, and Tenali rural. In November 2023, while living in Guntur, Krishna met Khader Maideen, who sells household goods on instalments, in Patancheruvu. They conspired to resume their illegal activities and set up a printing operation for fake Indian currency notes in a rented room in Patancheruvu, Sangareddy district. Krishna obtained printing equipment, including a computer, a colour printer, paper, and other materials.
Krishna then printed counterfeit notes, primarily in the Rs 500 denomination, and gave them to Maideen at a discounted rate (Rs 14,000 for Rs 1 lakh worth of fake notes). Maideen then contacted Hitesh Vaishnav (alias Mahender), a cooker and mixer repairman in Begum Bazar, and convinced him to join the scheme. Maideen offered Vaishnav fake currency at a further discounted rate (Rs 17,000 for Rs 1 lakh). Vaishnav then circulated the counterfeit notes in the open market through a network of individuals, including Dhasharath Kumar Parmar, Mali Rajuram, and Praveen Kumar Mali, taking a commission for his role.
Acting on credible information, the task force team and Begum Bazar police apprehended the six accused persons while they were circulating the fake notes in Begum Bazar.
The police department urges the public to be vigilant while handling cash transactions. It is crucial to check the security features of Rs 500 denomination notes issued by the RBI. If you suspect receiving fake currency, report it immediately to the police or your bank.
Chronology of fraud
Krishna printed counterfeit notes, primarily in the Rs 500 denomination, and gave them to Maideen at a discounted rate (Rs 14K for Rs 1L). Maideen then contacted Hitesh Vaishnav, a cooker repairer, and convinced him to join the scheme. Maideen offered Vaishnav fake currency at a further discounted rate. Vaishnav then circulated them in the open market, taking a commission for his role.