Hyderabad: Cyberabad police arrested three persons for cheating a trader, promising him to exchange demonetised currency, and looted Rs 36.5 lakh from him. Police recovered Rs 15 lakh from the suspects, identified as Sunkara Phani, M. Anjaneyulu and Vishwanath Reddy. Other suspects Nagesh Kumar and Sitaramanjaneyulu were arrested earlier.
DCP Balanagar Y. Sai Shekar said that Vishwanath was a tenant in the victim Kolan Venkatesh’s house. When Venkatesh sold the house for Rs 36.5 lakh, Vishwanath offered to exchange the currency in Rs 2000 denomination with Rs 100 denominations for a commission of 20 per cent. Vishwanath and his associates, Nagesh Kumar, Sitaramanjaneyulu, Sunkara Phani and M. Anjaneyulu, called the victim to their house for the exchange and cheated him. Venkatesh lodged a complaint with Balanagar Police on July 5. Police arrested the suspects.
