Currency exchange racket busted in Hyderabad

The Hyderabad police on Saturday arrested a currency exchange racket based in Karimnagar and arrested five persons from Shamirpet. The police also seized fake currency of Rs 1 crore, genuine currency worth Rs 1.3 lakh, a car and other material were seized.

The police said that the arrested persons include Mohammad Azeez aka Azam (35), a realtor from Karkhana Galli in Karimnagar, Mohammad Anwar Pasha (38), from Peddapally district, T Subhash Chandra Bose (41), production manager in Telugu film industry from Sanathnagar, M Nagaraju from Abdullapurmet, J Bhagya Lakshmi from Karimnagar.

According to the police, Azam went to jail four times earlier for similar offences. The Keesara police caught the gang after a complainant Raji Reddy registered a case.