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Six held for circulating fake currency

Last Updated: Sunday, February 3, 2013 - 20:48

Hyderabad: Six persons were arrested from Abids here on charge of trying to circulate fake euro notes with a face value of about Rs seven crore, police said.

Accused Syed Subhan, a tailor from Guntur district, who resides in Mumbai, along with his five associates, were looking for prospective customers to sell the counterfeit euro currency for a sum ranging between Rs 5 lakh and Rs 10 lakh when they were nabbed, Abids Inspector Guru Raghvendra said.

At least three notes and four coins, besides two certificates of banks, all forged, mentioning about their value as one million euros was seized from the six accused, who were trying to dupe gullible customers, he said.

According to preliminary investigation, one Akram from Mumbai, had given fake euros to Subhan, the inspector said.

Abids police have booked a case of cheating and further investigations were underway.


First Published: Sunday, February 3, 2013 - 20:48
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