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Currency exchange gang nabbed in Telangana, 12 arrested
A gang of 12 members were caught exchanging banned currency notes of Rs 500 and Rs 1,000 on commission basis in Telangana.
A gang of 12 members were caught exchanging banned currency notes of Rs 500 and Rs 1,000 on commission basis in Telangana.
The police seized Rs 3.1 lakh new currency along with Rs 86,740 banned currency, 14 passbooks and a swipe machine from the gang in Suryapet.
The accused were identifed as Gadegani Srinu, Kesari Ranga Reddy, Shanam Ramaiah, Battipally Venkata Ramana, Shanam Veerabhadraiah, Kesari Shobh, Sandyala Sateesh, Saidulu, Banoth Srinu, Deguntla Nagaraju, Arepuri Narayana and Nelakantam Rambabu, all hailing from Garidepally, Neredcharla and Penpahad villages of Suryapet district.
The Suryapet police informed that the gang had retrieved the new currency notes after depositing the old currency notes in SBH through the various accounts and did the exchange process to others on commission basis. Another accused Sundari Nageshwar Rao is on the run.
