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Hyderabad: Two nabbed for robbing trader

Cops said the trio's plan was to exchange the cash with the help of some other people and divide it.

Hyderabad: A day after a gold merchant was robbed of Rs 50 lakh by a three-member gang on the pretext of exchanging demonetised currency notes, police arrested two people, including a suspended home guard, on Thursday. Another suspect, Naresh, an MBA student, is absconding.

Police arrested R. Ravinder Reddy, an insurance agent from Khammam, and R. Raju, a former home guard. Police recovered Rs 37 lakh from the duo, Shamshabad DCP P.V. Padmaja said.

Police said Ravinder Reddy had promised the victim to get his Rs 50 lakh in demonetised currency exchanged with the help of his connections in a bank. He asked the victim to come to Attapur with the money. When he reached Attapur, Reddy sent him back citing technical difficulties.

“While the victim was going back, Raju and Naresh came on a bike, overtook the car and forced the victim to stop. They introduced themselves as cops and asked him to show ID proof. They also asked him about the source of his cash. They then threatened him that he will have to pay 200 per cent penalty and a case will be filed against him. They then snatched his bag and escaped,” said an investigation official.

Cops said the trio's plan was to exchange the cash with the help of some other people and divide it. Police booked a case under Section 384 (extortion) against the suspects. Cops are now hunting for the absconding accused.

( Source : Deccan Chronicle. )
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