Yet Another Currency Exchange Gang Busted

15 Mar, 2017 17:24 IST

Police displays the seized currency notes

Hyderabad: Sixteen persons were held by Begumpet police on Tuesday for trying to exchange Rs1.2 crore demonetized notes for 50 percent commission

Begumpet SI Madhu said that during patrolling he noticed a group of people standing on the road near Pochamma temple at Begumpet. As he approached them the men tried to escape.

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North Zone DCP Sumati Shaik Subhan and Pavan Kumar wanted to exchange old currency notes with new ones and discussed it with Anthati Yadagiri who asked them to come to a flat at Venkat Residency in Begumpet

Police followed one of the suspects and went to a Venkat Residency apartment nearby. The police arrested the culprits including the owner.

North Zone DCP B Sumati said, "Shaik Subhan and Pavan Kumar wanted to exchange old currency notes with new ones and discussed it with Anthati Yadagiri who asked them to come to a flat at Venkat Residency in Begumpet."

Police seized four two-wheelers from the gang.

The accused are : K. Venkanna ,S. Yella Goud, K. Amarnath Reddy, Shaik Shavali, Md Muzammil, C. Madhan Gopal, VV Ramana, B. Puran Chander , Vengala Pavan Murthy , MP Sriram Chander, Hamukh Patel, Anthati Yadagiri, Shaik Subban , Pavan Kumar Reddy, N Sathyavathi, and MV Subba Rao.