Four Dawood associates arrested; counterfeit currency seized

Hyderabad, Aug 25 (UNI) The city police busted an international counterfeit Indian currency racket today, with the arrest of four persons, including an UAE national, suspected to be associates of underworld don Dawood Ibrahim, and recovered fake currency worth Rs 2.36 crore from them.

Addressing a press conference here, city Police Commissioner Balwinder Singh said the city police, in coordination with State intelligence, arrested Dubai-based Alkaz Khamis Obaid (31) and three Hyderabadis and seized the fake notes of Rs 500 and Rs 1,000 denomination.

Stating that Obaid was the brain behind the racket along with some Pakistanis, he said the notes were printed in Pakistan and smuggled to India via the UAE. The consignment, concealed as scrap paper, was shipped to Mumbai, from where it was brought in a truck to the city in three consignments of Rs 19 lakh, Rs 55 lakh and Rs 1.82 crore since April 2007 and stored in a house here.

Mr Singh said one of the accused Khaled Bin Saleh had floated a company 'West India Imports and Exports', through which the consignments were brought to the city.

He said the UAE national had visited Pakistan thrice in 2006. The accused confessed that 13 more persons were involved in the racket.

Police were interrogating the arrested to confirm their links with the Dawood gang.

Documents, including passports, were also seized from the accused, he added.

UNI