Visakhapatnam: Around Rs 10 lakh in banned Rs 500 notes was found floating in a drain near VUDA Mithulapuri Colony and Vikalangula Colony on Wednesday morning. The notes turned out to be fake.
Noticing the floating cash, locals recovered the notes hoping to get them exchanged. However, when they went to a petrol bunk to exchange the notes, the staff pointed out that they were fake.
Currency exchange gang held
The city police has arrested an 11-member gang that would con people stating that they would exchange demonetised notes with new currency for a commission. However, they did not have any new notes.
According to additional commissioner of poli-ce, Vijayawada Central, N. Satyanandam, the gang would tell people that it had '2 crore in new currency notes.
“On receiving a complaint, we started investigation and caught all 11 people involved,” said Mr Satyanandam. “They were basically trying to cheat people as they did not have any money.” he said.
