Four held with fake currency notes in Hyderabad

Hyderabad: Four persons, including three women were arrested from Tappachabutra area here for allegedly indulging in circulating fake currency notes and recovered counterfeit currency with a face value of Rs 36,000 from them, police said on Friday.

A tailor shop owner D Laxmi Narayana, along with three women workers (at his shop) E Anitha, K Saritha and G Harika, were nabbed during a checking of vehicles last evening, a release from City Police said. The four were trying to change the fake currency into original ones through means of purchasing (shopping) from various shops. Police seized Rs 36,000 counterfeit currency and Rs 45,820 original notes from them, they said.
The prime accused Srinath Reddy, a native of Anantapur district in Andhra Pradesh, who is at large, gave fake notes of with face value of Rs 1,24,000 to Laxmi Narayana in denomination of Rs 1,000 notes.
Narayana, then planned to change the fake currency into original currency by circulating to small shops at various places and engaged his shop workers in the task. He asked them to follow him in exchanging the fake notes and also offered them some commission, the release added.