Ananthapur Police seized Rs.1 Cr old currency,11 arrested

Andhra Pradesh, Anantapur, July 14: The Anantapur police have arrested a gang of 11 members and seized Rs. 1 crore in cash in the denomination of Rs. 500 and Rs. 1,000 demonetised notes here on Thursday.

The accused were arrested in Venkateswara Nagar area here while handing over the amount to a businessman from Bengaluru, according to Additional Superintendent of Police K. Malyadri.

While coming to details, The arrested persons were identified as T. Reddy Sarabha Reddy (Chinna Vaduguru), P. Somasekhar Reddy and A. Srinivas Kumar (Tadipatri), D. Eeswariah (Kandukur), P. Muni Sesha Reddy and Ch.Venkatesulu (Anantapur), Sheik Nasser Vali and G. Gangadhar (Kalyanadurgam), Guddili Anjaneyulu of S. Kondapuram.

The two who received the amount was Sheik Sadiq Basha and his car driver Hosahalli Lakshmi Gowda.

In the process, he contacted his friend Soma Sudha Reddy, who is a dentist. He offered to exchange old currency notes for new ones for 80 percent value under the NRI exchange scheme but failed to do so.

Further investigation is going on...