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AP Police arrest currency exchange gang, seize nearly 7 lakh
Highlights
A gang of 17 members have been arrested by the Andhra Pradesh police who seized 6 lakh 80 thousands rupees from them for allegedly exchanging banned currency notes on commission basis.
A gang of 17 members have been arrested by the Andhra Pradesh police who seized 6 lakh 80 thousands rupees from them for allegedly exchanging banned currency notes on commission basis.
Along with a TV channel, police conducted a sting operation that lead to the gang being busted. Vijayawada Police Commissioner informed that the members belong to different places in Guntur, West Godavari and Krishna districts.
The accused had persuaded merchants from Eluru to exchange the currency for 18 to 20 percent commission, said the Police Commissioner.
He also informed that the gang members were given 6.8 lakh rupees for exchange and added that they are looking at whether there is any role of bankers in this deal.
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