SALEM: Police arrested two persons of a seven-member gang who looted Rs 10 lakh of new currencies from a youth after enticing him to exchange scrapped currency notes in their possession in Salem district.
Police said Shaik Madhar, 33, from Kottai area and Latha from Allikuttai had approached Arul seeking to exchange their scrapped currencies to the tune of Rs 20 lakh.
“They agreed to a deal, to take Rs 10 lakh in new currencies for the scrapped notes of Rs 20 lakh. When Arul and the duo met at Erumapalayam area on the Salem-Chennai national highway on December 2 to exchange the currencies, suddenly a gang of miscreants arrived in a car, assaulted everyone and took away the entire cash amount.
“The miscreants had posed themselves as cops and executed the robbery. After snatching away the money, the gang members forced Shaik Madhar into the car, took him a short distance and left after dropping him,” police said.
On receiving information, the Kitchipalayam police rushed to the spot and held enquiries. Investigations revealed that Shaik Madhar and Latha had conceived a plan to loot Rs 10 lakh from Arul by luring him with a plan to exchange old currencies. They had then staged a drama that the money was taken away by robbers.
It also came light that the Rs 20 lakh brought by Shaik Madhar were partly bundles of white papers and not entirely old currencies. As part of the plan, Shaik took Rs 8 lakh (from the bundle brought by Arul) and gave away the remaining amount to other members of the gang.
Following this police arrested Shaik Madhar and Latha and seized '8 lakh from them. Further search is on to nab five other members of the gang, who are absconding.
