Sleuths of the Commissioner's Task Force (CTF) arrested a five-member gang and seized demonetised Turkish currency which was being exchanged in the city.
According to police, acting on a tip-off, the CTF officials intercepted a car in Andhra Prabha Colony and arrested the five accused in possession of the 300 demonetised Turkish notes. The accused were planning to exchange the foreign currency for ₹45 lakh.
The accused were identified as G Manohar (30) and G. Ravi Kumar (34) of Kadapa, T. Venkateswara Rao (47) and G. Srinu (36) of West Godavari and B. Sudhir Kumar Reddy (24) of Chittoor district.
According to CTF ADCP K.V. Srinivasa Rao, Manohar and Ravi approached Sudhir with the currency and planned to exchange them for the real Indian currency.
They took the support of Srinu and Venkateswara Rao, who were already into the trade of exchanging foreign currency. As per the plan, the gang brought the notes to the city.
