Orthopaedician caught offering new notes in exchange for demonetized ones

Visakhapatnam: An orthopaedic surgeon and his two aides were arrested in Visakhapatnam for allegedly offering new notes in exchange for demonetised currency on a commission.

Police have seized Rs 47 lakh from Anne Sireesh and his associates M. Surya Prasad Reddy and B. Srinivasa Rao. While Rs 46 lakh was in 2,000-rupee notes, Rs 1 lakh was in 100-rupee notes, the police said.

Assistant commissioner of police Chittibabu said a team raided an apartment following a tip-off and arrested the trio.

Chittibabu said the income tax department was probing the matter.