Hyderabad police today arrested a five member gang dealing with fake currency printing and distribution and recovered fake currency worth Rs.1.5 Cr from them.

The gang included local criminals as well as some persons from Bangladesh, according to police.  The gang has been transporting the fake currency notes printed in Pakistan to India via Bangladesh, the police said, adding that the Pakistan was indulging in this mischief to damage the Indian economy.

The fake notes would be taken to Bangladesh and from there it is being pumped into India through some Bangladeshi people. Some Bengalis are also involved in this, they said.

The gang seems to have disclosed that they had already distributed lot of fake currency in Hyderabad without attracting any suspicion from people.

The police said the gang was being interrogated and would disclose more details at a press conference this evening.