Yet Another Currency Exchange Gang Busted

Hyderabad: Sixteen persons were held by Begumpet police on Tuesday for trying to exchange Rs1.2 crore demonetized notes for 50 percent commission

Begumpet SI Madhu said that during patrolling he noticed a group of people standing on the road near Pochamma temple at Begumpet. As he approached them the men tried to escape.

North Zone DCP Sumati

Shaik Subhan and Pavan Kumar wanted to exchange old currency notes with new ones and discussed it with Anthati Yadagiri who asked them to come to a flat at Venkat Residency in Begumpet

Police followed one of the suspects and went to a Venkat Residency apartment nearby. The police arrested the culprits including the owner.

North Zone DCP B Sumati said, "Shaik Subhan and Pavan Kumar wanted to exchange old currency notes with new ones and discussed it with Anthati Yadagiri who asked them to come to a flat at Venkat Residency in Begumpet."

Police seized four two-wheelers from the gang.

The accused are : K. Venkanna ,S. Yella Goud, K. Amarnath Reddy, Shaik Shavali, Md Muzammil, C. Madhan Gopal, VV Ramana, B. Puran Chander , Vengala Pavan Murthy , MP Sriram Chander, Hamukh Patel, Anthati Yadagiri, Shaik Subban , Pavan Kumar Reddy, N Sathyavathi, and MV Subba Rao.