<p> A 35-year-old software engineer has been caught trying to sell demonetised Turkish currency in North Bengaluru. </p>.<p class="bodytext">The Turkish government had invalidated the one-million lira banknote in 2005. Effectively, these bills are nothing but worthless pieces of paper. </p>.<p class="bodytext">But Deepesh, of 11th Cross, RMC Yard, tried to act smart. Starting December 22, 2017, he frequently visited shopkeepers near Govardhan Theatre in Yeshwantpur.</p>.<p class="bodytext">He would tell them he had 100 liras of the one-million denomination. At the current exchange rate, the notes were worth Rs 170 crore, he claimed and offered to exchange them for a "measly" Rs 30 lakh.</p>.<p class="CrossHead">Hardly worth anything</p>.<p class="bodytext">But he would hide the fact that the currency was demonetised in the wake of hyperinflation in Turkey. Before being banned, a one-million lira banknote would hardly buy even a scoop of ice cream. </p>.<p class="bodytext">One of the shopkeepers clearly saw through Deepesh's plan. He searched the internet and found out about the demonetisation.</p>.<p class="bodytext">He immediately called the police control room. </p>.<p class="bodytext">On December 28, Raghuprasad, a sub-inspector at the RMC Yard police station, formed a team to track Deepesh down.</p>.<p class="bodytext">The sleuths rented a car and went in plain clothes as customers. They told Deepesh they were ready to buy all the Turkish lira notes from him and asked him to get some more. </p>.<p class="bodytext">Deepesh said he had just 100 notes of the one-million denomination and promised to try to get more.</p>.<p class="bodytext">The police immediately arrested him and seized his motorcycle. </p>.<p class="bodytext">Deepesh later told the police that a man named Farooq from Shivajinagar had given him the currency and told him to sell it for Rs 30 lakh.</p>.<p class="bodytext">He offered him a 20% commission. Farooq's mobile phone is now switched off, Deepesh said. </p>.<p class="bodytext">The police suspect Deepesh has links with Chennakesava Reddy, a landlord from Telangana, who was selling the banned Turkish lira in Karnataka.</p>.<p class="bodytext">The Hiriyur police arrested Reddy in October 2016 and seized Rs 87.69 crore worth of Turkish lira from him. Reddy's associate, Nagaraju, a constable from Chitradurga, was arrested in June 2017 with Rs 70.25 crore worth of Turkish <br />lira.</p>.<p class="bodytext">The police are also on the lookout for Farooq. </p>
<p> A 35-year-old software engineer has been caught trying to sell demonetised Turkish currency in North Bengaluru. </p>.<p class="bodytext">The Turkish government had invalidated the one-million lira banknote in 2005. Effectively, these bills are nothing but worthless pieces of paper. </p>.<p class="bodytext">But Deepesh, of 11th Cross, RMC Yard, tried to act smart. Starting December 22, 2017, he frequently visited shopkeepers near Govardhan Theatre in Yeshwantpur.</p>.<p class="bodytext">He would tell them he had 100 liras of the one-million denomination. At the current exchange rate, the notes were worth Rs 170 crore, he claimed and offered to exchange them for a "measly" Rs 30 lakh.</p>.<p class="CrossHead">Hardly worth anything</p>.<p class="bodytext">But he would hide the fact that the currency was demonetised in the wake of hyperinflation in Turkey. Before being banned, a one-million lira banknote would hardly buy even a scoop of ice cream. </p>.<p class="bodytext">One of the shopkeepers clearly saw through Deepesh's plan. He searched the internet and found out about the demonetisation.</p>.<p class="bodytext">He immediately called the police control room. </p>.<p class="bodytext">On December 28, Raghuprasad, a sub-inspector at the RMC Yard police station, formed a team to track Deepesh down.</p>.<p class="bodytext">The sleuths rented a car and went in plain clothes as customers. They told Deepesh they were ready to buy all the Turkish lira notes from him and asked him to get some more. </p>.<p class="bodytext">Deepesh said he had just 100 notes of the one-million denomination and promised to try to get more.</p>.<p class="bodytext">The police immediately arrested him and seized his motorcycle. </p>.<p class="bodytext">Deepesh later told the police that a man named Farooq from Shivajinagar had given him the currency and told him to sell it for Rs 30 lakh.</p>.<p class="bodytext">He offered him a 20% commission. Farooq's mobile phone is now switched off, Deepesh said. </p>.<p class="bodytext">The police suspect Deepesh has links with Chennakesava Reddy, a landlord from Telangana, who was selling the banned Turkish lira in Karnataka.</p>.<p class="bodytext">The Hiriyur police arrested Reddy in October 2016 and seized Rs 87.69 crore worth of Turkish lira from him. Reddy's associate, Nagaraju, a constable from Chitradurga, was arrested in June 2017 with Rs 70.25 crore worth of Turkish <br />lira.</p>.<p class="bodytext">The police are also on the lookout for Farooq. </p>
