Live
- Dr. M. Priyanka Stresses Quality Education, Nutritious Meals, and Cleanliness in Schools
- Mandal Level CM Cup Sports Concludes in Ija with Promising Talent and Enthusiastic Participation
- Harish Rao Slams Revanth Reddy: "More Talk, Less Action"
- Revolutionising Oil and Gas: Gaurav Kumar Sinha’s AI-Driven Innovations Transforming Efficiency and Profitability
- Vishal Jain to head AiDASH facility
- Congress Central Election Committee has finalised the names of around 20 candidates for the upcoming Delhi Assembly elections
- District Collector Adarsh ​​Surabhi has ordered to expedite the land acquisition process related to irrigation projects in the district
- Economics and Public policy gets new platform in Bengaluru
- Residents Demand Action After Accidents Highlight Poor Road Safety Measures
- Rahul Gandhi Visits Hathras Victim's Family, Slams BJP For Injustice
Turkish currency exchange racket busted; 2 arrested
The Musheerabad police on Saturday busted a banned Turkish Lira exchanging racket and arrested two persons. As many as 97 Lire, each 10 lakh denomination, with a face value of Rs 220 crore was seized from the arrested, said police.
​Hyderabad: The Musheerabad police on Saturday busted a banned Turkish Lira exchanging racket and arrested two persons. As many as 97 Lire, each 10 lakh denomination, with a face value of Rs 220 crore was seized from the arrested, said police.
The arrested were identified as T Ratna Kumar (55), realtor from KPHB, who hailed Narsapuram in Andhra Pradesh, and P Ramakrishna (34), a private employee from Nizampet, who hailed from Guntur in AP. The police seized Lire from the duo at a lodged in Nizampet.
During questioning, Ratna Kumar confessed to having purchased the banned Turkish currency from one Laxman Rao in Palasa of Srikakulam district. He intended to earn easy money by luring the gullible to buy the lire. He shared the idea with his friend Ramakrishna and they had both set out to do the job.
About 15 days ago, Ramakrishna came to Nizampet and booked a room in Harsha Lodge. On June 2, the duo went to Srinivasa Textiles at Ram Nagar trapped a man, identified as C Vishwanath. The duo told the victim that they had 97 Lire notes worth Rs 220 crore and they were willing to sell each note for Rs 1 lakh.
Vishwanath, who came for shopping, had a lesser amount of money and he negotiated the price to buy one Lira for Rs 20,000 and bought it. After reaching home, he verified it with his sources and found that the currency had been banned in 2005. Realised that he was cheated, he lodged a complaint with the Musheerabad police.
“The accused were produced before the XVIII ACMM Court in Nampally for judicial remand. They will be taken into custody for further interrogation and also to verify if they are involved in similar cases,” said Central Zone DCP V B Kamalasan Reddy.
The DCP appealed the public to inform the police if anyone offered Lire in exchange for Indian currency. He said several persons of late were trying to cheat the gullible by offering Lire in exchange for Indian currency.
It may be recalled that on May 16, the police in twin Police Commissionerates busted two gangs and apprehended 16 persons for attempting to cheat public by exchanging banned Lire. The police then seized banned 497 Lire notes, each 5 lakh denomination, with a face value of Rs 660 crore.
