Gang exchanging demonetised Turkish currency busted in city
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The city police busted two gangs and arrested six individuals for allegedly making an attempt to cheat folks with invalid international currency and colored stones in two separate circumstances in the city on Saturday.
In one case, the police busted a two-member gang who had been allegedly making an attempt to promote demonetised Turkish currency, claiming it to be real currency.
The accused had been recognized as L. Vimal Kumar (31), a resident of Chittoor district, and V. Siva Prasad (30) of Vizianagaram district.
The police seized demonetised 100 Turkish lira currency, every of 5,00,000 denomination.
Addressing a press convention right here in Visakhapatnam on Saturday, Additional Deputy Commissioner of Police (Special Enforcement Bureau), V. Ajitha stated that the accused Vimal Kumar and Siva Prasad had been negotiating a take care of some individuals by claiming that the demonetised Turkish currency notes had been real ones.
The accused had allegedly procured the currency from some unidentified gang in Chittoor district for ₹70,000. These financial institution notes had been truly banned since 2005. The duo had been negotiating the take care of some individuals and making an attempt to promote it for ₹5 lakh in Indian currency.
“The gang was luring people by saying that they could sell the same currency to others for even higher prices. They were claiming that the currency was originally worth around ₹45 crore in Indian currency,” stated ADCP (Crime) V. Suresh Babu.
In one other case, the police arrested 4 individuals for allegedly making an attempt to promote colored gem stones.
The accused had been recognized as N. Giri Babu (31) of Srikakulam, stated to be the kingpin in the case, and mediators G. Sai Krishna (34), S. Babu Rao (52), and S. Dasavatharam (47).
Police stated that Giri Babu had allegedly bought the stones from some individuals at Rampachodavaram in East Godavari for about ₹70,000. On November 6, the gang was allegedly in search of events to promote the colored stones.
Further investigation is on in each the circumstances.
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