Hyderabad: Task Force sleuths on Monday arrested three persons, including a former reporter, for involvement in a fake currency note racket. The trio planned to lure innocent people to exchange their genuine currency notes with fake notes in the ratio of 1:3. Police seized fake currency notes in 500-rupee denomination purported to be of the value of Rs 2 lakh. The accused are G Anji Reddy (27), real estate businessman and native of Chinna Thimmapur in Mulugu mandal in Medak district; G Srisailam Goud (33), hotelier (Desai Dhaba) at Podchanpally in Medak district; and D Prasad (20), an employee at Desai Dhaba, Podchanpally.
Anji Reddy passed Intermediate and did not study further due to financial problems. Earlier, he had worked as a reporter for News-9 daily for some period. During a visit to Desai Dhaba at Podchanpally on real estate business, he developed friendship with Srisailam Goud and Prasad. As the real estate business was on the decline, Anji Reddy thought of taking up some other business which was lucrative. On coming to know that a friend of his, Prasanth of Turkapally, was involved in preparation of fake currency notes of 500-rupee denomination, he learnt the skill from him.
"With a mind to earn easy money Anji Reddy got in contact with Goud and Prasad, explained to him about his plan and offered them handsome commission for identifying and bringing customers to him. On the duo agreeing to join hands with him, Anji Reddy bought a laptop computer
12:44 PM, Jul 24, 2012
Washington: Counterfeit currency is flooding into India from Pakistan and terrorist and criminal networks are using this money to finance their activities in the country, an official US report has said. Warning that burgeoning black money, remittance systems and porous border were triggering money laundering at an alarming pace, the International Narcotics Control Strategy of the State Department in its 2011 report said the Indian government should facilitate development of...
11:53 AM, Mar 04, 2011