Hyderabad: Two members of the gang, who were diverting attention and exchanging fake dirhams into Indian currency at money transfer agencies were caught by the East Zone Task Force. Police recovered Rs 1.6 lakh from their possession.
The accused were identified as Mohammed Sameeruddin(39) and Abdul Rizwan (21) of Nizamabad.
East zone Task Force inspector K.Srinivas said, "One person waits in front of the money transfer agencies on a two-wheeler and other two members of the gang go inside for exchanging of Dirhams for the Indian currency. They first show real dirhams and then switch them for fake notes while pretending to bargain."
The money transfer agent would accept the fake dirhams and hand genuine Indian currency. Then the gang member would flee immediately, Srinivas said.
The police arrested the two accused and a manhunt was launched for the other two gang members, who are absconding.