Note exchanging gang busted; 12 held

The police in Suryapet arrested a note exchange gang on Monday. The police produced 12 members, including Quthubshapuram sarpanch Srinu Naik, of the gang before the SP. Gaddipalli MPTC Nageswara Rao, who was the member of the gang, was absconding. The police recovered Rs 3.15 lakh worth Rs 2000 notes and Rs 86,000 worth Rs 1000 and Rs 500 notes and 12 bank account pass books and a swiping machine from the gang which was exchanging the old notes with 20 percent commission.

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