The Two Town police on Saturday arrested eight persons for trying to sell outdated Turkish currency notes (Lira). The Turkish government banned them in 2010.
Following a tip-off, inspector D.S. Krishna Chaitanya and his team raided an apartment complex near Bhanu Gudi Centre, seized the currency and arrested the accused, who were trying to sell off the currency in the local market. The police seized 99 lira notes of denomination of Rs. 5 lakh each. As per the exchange rate, the value of the notes in Indian currency in the event of their sale would be about Rs. 111 crore.
“We are investigating on how the accused managed to bring such huge currency here and their exact modus operandi,” said Deputy Superintendent of Police S. Venkateswara Rao, while addressing a press conference here.
The arrested were: Pathan Shankar, Toleti Prakash and Degala Ramakrishna of Hyderabad, Kudiri Vijaya Bhaskara Rao of Nellore, Miriyam Laskhmi Narayana and Vadaparthi Venkatesh of Kakinada, Rekapalli Suresh of Razole and Rayudu Satyanarayana of Rajamahendravaram. “We are suspecting the involvement of some more individuals in the case and we will take action against them once their role was proved,” Mr. Rao said.
