The Hyderabad police busted an interstate fake currency racket on Friday. They recovered huge quantity of high quality counterfeit currency.

According to the police, acting on a tip off the police team nabbed three persons and seized fake currency worth Rs 11. 95 lakh in Rs 1000 and Rs 500 denominations.

The three accused have been identified as Hyderbad resident Mohammed Ghoused , Shareeful  Shaik and one woman Jahannara Bibi both residents of Malda in West Bengal.

Police have launched a manhunt for one more accused identified as Babloo Shaikh also native of Malda. Police said that Bablooo is the main suspect and is absconding and that an effort is on to nab him.

According to the police, "the Ghouse was previously involved in several counterfeit currency cases reported in various police stations of Hyderabad city and about one and half month back he was released from the jail. After the release he revived his old contacts in Malda district of West Bengal who were previously supplying him counterfeit currency. Police said that 10 days ago, Babloo who is the main supplier of counterfeit notes sent Ghouse notes worth Rs 12 lakhs with his mother Jahannara Bibi and his brother-in-law Shareeful Shaikh."

He added "while Ghouse was receiving the consignment of fake currency from Shreeful and Jahannara Bibi at Charminar, the police them caught red-handedly. The team of police recovered fake Indian currency notes amounting to Rs 11.95 lakh."

Police said that "the seized fake currency was of high quality and that it could not be identified easily. Sources said that the arrest of main accused will expose the fake currency racket operating in various states including Telangana and Andhra Pradesh."

Also Read: Hyderabad police bust fake currency scam, arrest 5

BY M. DIVYA SRI