Hyderabad: The police here on Friday busted a counterfeit currency racket and held two persons with fake Rs 2,000 notes with a face value of Rs 3.98 lakh. Anjani Kumar, CP Hyderabad (city) said, "We've arrested two people involved in an inter-state fake currency racket. Fake currency notes of Rs 3.98 Lakh and a two-wheeler have been seized from them.

Telangana: Police seized fake currency notes of Rs 3.98 lakh in Hyderabad.
Anjani Kumar, CP Hyderabad (city) says,"We've arrested two people involved in an inter-state fake currency racket. Fake currency notes of Rs 3.98 Lakh & a two-wheeler have been seized from them."(15/2/19) pic.twitter.com/mFLJr5I5Jd

— ANI (@ANI) February 15, 2019

"The duo accused have been identified as Mohd Ghouse alias Bomb Ghouse, 48, who has been on the police records since 1991, and Rabiul Shekh, 22, a resident of Malda district in West Bengal. While Ghouse and Rabiul were exchanging counterfeit currency in Hashamabad, they were apprehended by the police. Ghouse has been circulating fake notes since 2011. The police have arrested him 12 times since. His last arrest was by the Charminar police in 2016. While in Jail, he facilitated the circulation of fake currency through a man named Ameenul Rehman.