Mangaluru: The Mangaluru City police have seized demonetized currency worth Rs.1.92 crores and arrested three persons. The seized notes are of Rs 500 and Rs 1,000 denominations. The total worth of the seized amount is Rs 1,92,50,000.
The arrested are from Mangaluru and have been identified as Jubeer Hammamba, Deepak Kumar and Abdul Nasir. While Nasir and Hammabba are working as drivers, Deepak is into electric business.
The police seized the currency when the accused were transporting the notes to Mangaluru.
Primary reports of the probe indicate that the accused got the notes from people in nearby districts like Chitradurga and Shivamogga. The trio promised people that the currency can be exchanged at 50 per cent of the value. They also asked for commission for exchanging the demonetised currency.
Mangaluru City Police Chief N Shashi Kumar told reporters that the accused were produced before the court. The police will seek custody of the trio for further probe.
The Police want to verify the source of the currency notes and the people whom the accused wanted to hand over it.
