The City Task Force (CTF) team led by ACP I. Chittibabu seized Rs. 13 lakh of new currency notes in denominations of Rs. 2,000, Rs. 100 and Rs. 50 from a person in Gajuwaka on Tuesday.
The arrested was identified as K. Naga Eswara Bala Veera Anjaneeya Achary (40), resident of Anakapalle town.
ACP (South) J. Ramamohan Rao said the CTF conducted a raid near R K Hospital at Gajuwaka and apprehended Achary, while he was trying to illegally exchange new denomination with old denomination on 20 per cent commission basis without any valid credentials. The money was also seized.
ADVERTISEMENT
The total money seized was Rs.13 lakh (Rs. 11,54,000 in Rs.2000 notes, Rs.1,43,200 in Rs. 100 denomination notes and Rs. 2800 in Rs. 50 notes).
One motorcycle was seized from his possession. However, the Task Force personnel are yet to ascertain to whom he was trying to hand over the cash.
Further investigation is going on. The CTF has handed over the cash and accused to Gajuwaka police and they are in touch with the Income Tax officials.
ADVERTISEMENT