The masterminds of the scheme used the students to circulate the fake currency that was made using just a printer and a scanner.
Hyderabad: Two pupils who were circulating the fake Rs 2,000 currency notes in the college canteen of engineering were arrested by Cyberabad police force on Thursday, together with two other persons, said to be the brains of the scheme.
P.V. Padmaja Reddy DCP Shamshabad said the main suspect, Vijay Sharma, a jeweler from Bowenpally, and his friend Mohtesham Ali Khan, an executive at Bajaj Capital, had conspired to print the fake money.
Vijay Sharma had bought a color printer-cum-scanner and photocopier from Chenoy Trade Centre in Secunderabad and had started the printing of the fake money. They printed notes wealth around.
Rs 35 lakh and spread them through Abdul Samad and Wajeehuddin Khan — students of Lord’s Engineering Academy. Wajeehuddin is Mohtesham’s nephew and child of the head of the forensic medicine department of Osmania Medical College.
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The students used the fake notes in the college canteen. “After mixing the notes successfully in the canteen, their next target was shopping center across the city,” the DCP held. Wajeehuddin and Samad spent about Rs 2,000 in the duplicate notes at the college canteen on two events. When they tried to pay the third time, the canteen staff became doubtful and alerted the police.
The police soon made investigations and ended up grabbing `20.76 lakh in the fake money from Mohtesham, Rs 12.18 lakh from Vijay, Rs 1 lakh from Wajeehuddin and Rs 1.02 lakh from Samad.
Wajeehuddin stated to the forces that Mohtesham had lured him into circulating the money. He said that he was offered a commission of `10,000 in legal cash for one lakh in fake money. Wajeehuddin claims he took Samad’s support and offered him a commission as well. All four have been under arrest and sent to remand. The case is under investigation.