Gang held with Rs 57 lakh demonetised currency in Hyderabad

The arrested persons were identified as Bomathi Suresh alias Suresh, 38, from Warangal; Manthana Ramesh alias Ramesh, 30, a realtor from Mancherial and Anamala Santhosh Kumar, 31, from APHB Colony, IDPL.

By Author   |   Published: 12th Sep 2017   6:27 pm
Bribe
Representational Image

Hyderabad: The Central Zone Task Force nabbed a three-member gang with Rs.57 lakh demonetised currency at Regimental Bazaar here late night on Monday. They were trying to exchange old currency in Rs.500 and Rs.1,000 denomination into valid currency with the help of agents on a commission basis, police said.

The arrested persons were identified as Bomathi Suresh alias Suresh, 38, from Warangal; Manthana Ramesh alias Ramesh, 30, a realtor from Mancherial and Anamala Santhosh Kumar, 31, from APHB Colony, IDPL.

According to the police, Suresh had financial constraints and after learning that one of his friends Rajashekar, a realtor from Malkajgiri had a huge amount of demonetized currency, contacted him and told him that he would get the same exchanged on a commission basis. He took Rs.57 lakh of demonetized currency and since then was trying to exchange it, according to B.Limba Reddy, DCP, Task Force.

Police said Suresh had contacted two agents, Ramesh and Santosh Kumar, and asked them to help in arranging a client to exchange the currency. He offered them commission as well. The duo then netted one client and informed Suresh, asking him to come to Hyderabad on Monday.

He met Ramesh and Santosh Kumar near the Mother Theresa Statue in Regimental Bazaar and while they were waiting for the client, they were nabbed. The gang and the seized currency were handed over to the Gopalapuram police for further investigation.