Beginning of the end of black money in Vizag: Rs 47 lakhs seized, a doctor amongst arrested

The fight against corruption and fake notes seems to be progressing after PM Narendra Modi demonetized the ₹500 and ₹1000 denomination notes on November 8. It appears to have a positive impact on Visakhapatnam as well.

On the New Year, Sunday, 1 January 2017, the city police caught three people who were supposedly offering new notes in exchange for demonetised currency on a commission. Dr Anne Sireesh, an orthopaedic surgeon, and his associates M Surya Prasad Reddy and B Srinivasa Rao were allegedly running this illegal operation.

Acting on a tip-off, ACP Chittibabu stated that his team carried out a raid at flat No. 401, Sri Pavan  Apartment in Shankarmattam Road. The triad, Dr Anne Sireesh and his associates M Surya Prasad Reddy and B Srinivasa Rao, were arrested. The police seized Rs 47 lakh (Rs 46 lakh in Rs 2,000 denomination and Rs 1 lakh in Rs 100 denomination).

Dr Sireesh was offering the money in valid currency for the demonetised notes for a commission of about 30 per cent,” the ACP said. Earlier Dr Sireesh had exchanged Rs 40 lakh in old currency with new notes. He also said that the Income Tax Department was looking into the matter.

Feature Image Credit: Financial Times/Ingram Pinn

This post was last modified on 05/01/2017 12:53 pm

Leave a Comment
Published by
Team Yo! Vizag

Recent Posts

Where to find great brownies in Vizag: A foodie’s guide!

Brownies are one of the most popular desserts around the world. You can make this…

5 hours ago

Brilliant but Broken: Top Tortured Genius Movies and Series!

People look up to prodigies and geniuses for their uncanny intellect. While the appeal of…

8 hours ago

212 kgs of Marijuana Caught by Vizag Police

The Vizag Police authorities caught 212 kgs of Marijuana in two separate cases near Anandapuram…

11 hours ago

Vizag and Vijayawada Metro projects to be Funded by International Banks?

Long-awaited metro rail projects in Visakhapatnam and Vijayawada are showing signs of real progress, as…

12 hours ago

New mid-week OTT releases to binge watch– Updated streaming list!

Through the never-ending work hustle, there are certain moments of joy, be it with your…

1 day ago

AP Govt to Build Semi-Ring Road Around Vizag Connecting Bhogapuram and Rambilli

Semi-Ring Road Around Visakhapatnam: In a major infrastructure push, the Andhra Pradesh government has announced…

1 day ago