Task Force DCP Limba Reddy clarified that Srinivasa Rao, who was arrested in the demonetized notes exchange case, was not any relative of film actor Jeevitha, but said that the arrested person had links with several people in the film industry.
Speaking to the media on Friday, Reddy revealed that Srinivasa Rao was working as a production manager in Joy Store, and that the police had seized old notes worth Rs 7 crores by arresting him and an accomplice called Purushotham. He said that the men had offered to exchange demonetized notes of several people telling them that they knew many bank managers. They took Rs.7 crores in demonetized notes from one Koteshwar of Chennai last week assuring him that they would exchange the notes for a 20% commission.
Reddy said that they were interrogating the culprits while detaining them.