Rs 90 lakh seized in demonetised note exchange scam; six held
TNN | Mar 31, 2019, 06:04 IST
Representative imageBENGALURU: In a demonetised currency exchange racket, six persons were arrested on Friday and notes worth Rs 90 lakh in Rs 500 and Rs 1,000 denomination were seized from them. The scam came to light a day after Revathi, a resident of Vijayanagar, filed a fake robbery case against five co-accused — Vinod Kumar, Rakesh, Ravi alias Ravindra, Renuka Prasad and Basavaraju.
Revathi alleged that Vinod Kumar and Rakesh robbed her of Rs 13 lakh near Indian Institute of Science, Bengaluru, on March 26. Initially, she claimed she runs a vegetable export business with her friend Santosh Kumar. The duo wanted a physiotherapy course seat for Santosh’s sister. Vinod said his friend Rakesh could arrange a seat for Rs 13 lakh.
Gang used to collect demonetised notes
Vinod asked her to meet him near IISc, snatched her bag containing the money and escaped. Police tracked down Vinod and Rakesh on Friday and questioned them. They said the money was in demonetised notes.
Police said, “Revathi confessed she filed a false complaint because Vinod and Rakesh had not exchanged her old notes. Revathi’s money had been given to Ravindra and when we searched his residence in Dasarahalli near Peenya, we found Rs 90 lakh in demonetised currency.”
Based on Ravindra’s information, police arrested Renuka Prasad and Basavaraj. All the accused are businessmen or real estate agents, cops said.
The gang led by Ravindra would collect demonetised money from people in Bengaluru and exchange them for new currency notes from a person identified as Praveen in Chennai. “We sent a team to Chennai to nab Praveen and figure out what he does with demonetised currency,” a police officer said. All six accused were produced before a magistrate on Saturday and taken into police custody for three days.
Revathi alleged that Vinod Kumar and Rakesh robbed her of Rs 13 lakh near Indian Institute of Science, Bengaluru, on March 26. Initially, she claimed she runs a vegetable export business with her friend Santosh Kumar. The duo wanted a physiotherapy course seat for Santosh’s sister. Vinod said his friend Rakesh could arrange a seat for Rs 13 lakh.
Gang used to collect demonetised notes
Vinod asked her to meet him near IISc, snatched her bag containing the money and escaped. Police tracked down Vinod and Rakesh on Friday and questioned them. They said the money was in demonetised notes.
Police said, “Revathi confessed she filed a false complaint because Vinod and Rakesh had not exchanged her old notes. Revathi’s money had been given to Ravindra and when we searched his residence in Dasarahalli near Peenya, we found Rs 90 lakh in demonetised currency.”
Based on Ravindra’s information, police arrested Renuka Prasad and Basavaraj. All the accused are businessmen or real estate agents, cops said.
The gang led by Ravindra would collect demonetised money from people in Bengaluru and exchange them for new currency notes from a person identified as Praveen in Chennai. “We sent a team to Chennai to nab Praveen and figure out what he does with demonetised currency,” a police officer said. All six accused were produced before a magistrate on Saturday and taken into police custody for three days.
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