: The Kamanpur police arrested a currency exchange gang and recovered notes valued at Rs. 5.4 lakh in Rs. 2,000 denomination and two motorcycles from their possession.
Ramagundam Commissioner of Police Vikram Jeet Duggal said at Kamanpur on Thursday that the gang was exchanging the new currency for a 30 per cent commission.
The gang was caught red-handed and the cash recovered when the Kamanpur Sub-Inspector Madhusudhan and his team arrived at the Adivaraha Estate on getting the information about the whereabouts of gang members. The SI asked them to come to the place pretending to be an ordinary person looking for the exchange of old currency notes. The gang members sought Rs. 7.7 lakh in old currency notes for an exchange of Rs. 5.4 lakh of new notes.
The arrested include Kalyanam Kiran Kumar, Moluguri Sagar, Kolipaka Dileep Kumar and Kanukurthi Karthik. Peddapalli DCP Vijayender Reddy, Godavarikhani Two Town Inspector Deva Reddy and others were also present.
