Bengaluru: Mastermind of Rs 80 lakh robbery detained by South Division police

Bengaluru: The prospect of cashing in and taking advantage of the confusion and cash crunch following the demonetization drive, brought a retired DySP out of retirement and into a life of crime! Babu Noronha, allegedly masterminded a heist of Rs 80 lakh in the city on November 25 detained by the South Division police, his arrest is yet to be formalised as the police are still interrogating him to collect evidence.

But JP Nagar police, who initiated the investigation into the heist, arrested prime accused in the case, Lohith, who spilled the beans on the alleged involvement of the retired DySP, coming clean on one of the biggest cons since the shock demonetization hit the lives of ordinary people.

Realtors Shivaram, Satish and their friends, who were all working at private firms, fell prey to an offer of 20 percent commission to exchange valid denomination for the old scrapped currency notes worth Rs 1 crore.

According to their complaint, a complete stranger named Akshay called them on their phone and told them that he and his friends had Rs 1 crore in scrapped currency notes of Rs 1,000 and Rs 500 denominations. They wanted it exchanged and offered to give Shivaram, Satish and his friends a 20 per cent commission or Rs 20 lakh in old currency if they were willing to exchange it for the new legal tender, the police said.

By Thursday, the duo and a dozen of their friends pooled in Rs 80 lakh in the new Rs 2,000 and Rs 100 notes. By evening, they called Akshay and told him that the money was ready. Akshay told the duo that he wanted to see the cash first and only then exchange the new for the old currency notes. The duo agreed.

Akshay came to Satish's house in J.P. Nagar and saw the bundles of cash in the new notes and from there, he called his friends, one of them, named Karthik, asking them to bring the old money, the police said.

The three men who finally arrived at the house in a Skoda car, however claimed to be sleuths from the Central Crime Branch, flashed the ID card of a Babu Norohna, who was supposedly standing near the car. They questioned Shivaram and Satish about the money, but with the scared duo unable to give a satisfactory answer, the three men loaded the cash bags into the car and asked the duo to accompany them to the CCB office. Midway, the two were asked to get down and they sped away with the cash.

The JP Nagar police started the probe with details of the Skoda car which led them to Lohith and two to three others, who are yet to be identified.

When Lohith was subjected to intense interrogation, he spilled the beans about the involvement of the retired DySP. Later the police detained Babu Norohna and are still questioning him to collect evidence against him to formalise his arrest since he is a retired cop.

The police have concluded that Babu Norohna took advantage of the demonetisation drive and cash crunch in the market to make a quick buck.