Bengaluru: 4 held for trying to exchange Rs 4.98 crore demonetised currency
Bengaluru: In two separate operations, the CCB police arrested four people and seized Rs 4.98 crore in demonetised currency.
In Shankarapura, a real estate agent and a resident of Shanthinagar, Nanjunda, 46, was arrested near Marata Hostel on Bull Temple Road and demonetised cash of Rs 3 crore was seized from him.
The police said that the raid was conducted on Sunday evening based on credible information. When enquired about the money, he said that his friends Arun and Manjunath had given him the cash bag and told him that an NRI would come and collect the money.
He admitted that he was offered a commission in the deal and that was the reason he accepted to exchange it. Investigations are on to trace the person to whom the cash belonged and also to nab his absconding friends. The police also seized a car.
In another operation in Rajajinagar, Ambrose David, 42, of Jayanagar, Arif Pasha, 34, of Bannerghatta Road, and Felix, 35, of Kerala were arrested.
All the three are realtors. Demonetised cash of '1.98 crore and an Audi car were seized from the accused. The police said that they swung into operation after a tipoff that some persons were trying to exchange demonetised currency and were going around in an Audi car on West of Chord Road.
The police intercepted and searched the car to find Rs 1.98 crore. They told the police that a person contacted them four days ago and promised them that he would help them in exchanging the scrapped currency for a commission of 58 per cent.
As per his instruction, they were waiting near Shivali Lodge on West of Chord Road on Sunday night when they were arrested. “They waited for three hours, but the man who had promised to exchange their money did not turn up. We are trying to trace him,” an official said.
