Police busted the activities of gang in the southern Indian city of Bangalore, while members were trying to sell demonetized Turkish lira banknotes to a businessman for 2.7 million rupees ($41,800). According to an article by The Hindu newspaper, four people, including a 40-year-old police officer, were arrested Tuesday for trying to sell 78 invalid TL 500,000 banknotes. The gang initially agreed with the businessman and one of his friends to sell the banknotes for Rs. A 10-year transition period was set for old banknotes to be replaced in CBRT and state-run Ziraat Bank branches. The information on valid, withdrawn and counterfeit Turkish banknotes can be obtained through CBRT's website.

Source: The North Africa Journal June 23, 2017 14:03 UTC