The sleuths of Task Force arrested five persons for exchanging outdated Brazilian currency with Indian currency on Saturday. As many as 1300 out dated cruzados notes of 500 denomination and four cell phones were recovered from them.
According to police, the accused were identified as G Vishnu Murthy, 40 and resident of Mahbubnagar, Feroz Khan, 33 and resident of Kharkhana, T Ramachandrudu, 35, resident of Shadnagar, Sarvar Khan, 37, resident of Shaikpet, B Srinivas, 33, resident of Masab Tank, all of whom are businessmen.
The gang members exchanged the currency with a resident of Domalguda recently, who was lured by stating that the said out dated Cruzados (500 denomination) is equal to Rs 12,000. They exchanged some of the currency with Rs 1,16,000 and shared the spoils. On credible information, the police caught the gang members red handed while they were about to exchange the currency with another person at Begumpet Airport.
The worth of the seized Brazil currency is about Rs 1.5 crore face value of Indian currency. But Cruzados were demonetized in the year 1989, with ‘Reals’.
——————INN