CBI flushes out Rs 70 lakh new currency from relative of senior postal official

Hyderabad: The CBI sleuths, who earlier arrested a senior postal official for his alleged involved in fraudulent exchange of new currency notes, raided residence of his relative in Ibrahimpatnam in Ranga Reddy district on Friday and recovered Rs 70 lakh in new Rs 2,000 currency notes. The raids followed a day after a special court sent K. Sudheer Babu, senior superintendent of a post office in Hyderabad, to judicial custody till December 23.

It may be mentioned that Sudheer Babu had surrendered before the CBI officials on Thursday. Two others, Nitin and Narsimha Reddy, who acted as middlemen, were also arrested and sent to judicial remand. The premier Central investigation agency arrested four accused in the scam. Sudheer Babu allegedly handed over new Rs 2,000 notes of Rs 2.95 crore to middlemen for a commission. He had taken the new currency notes from the money sent to the postal department for exchange of demonetised notes of Rs 500 and 1,000.

The CBI also booked cases against two assistants in the office of Senior Superintendent of Post Office and employees of three post offices for committing irregularities in criminal conspiracy with Sudheer Babu. The CBI had earlier recovered Rs 17.02 lakh in new currency notes of Rs 2,000 denomination.

Meanwhile, the Kothur police in Ranga Reddy district recovered a huge amount from racketeers on Saturday. Out of the seized cash, new Rs 2,000 currency notes worth Rs 27 lakh and the remaining Rs 10 lakh notes in the form of Rs 10, Rs 20 and Rs 100 were found.

While the note exchange racketeers were returning with the huge, the police intercepted them and seized the cash. The police arrested the racketeers and interrogating them from where they got the currency notes. The Kothur police seized notes valued at Rs 82 lakh, of which notes worth Rs 76 lakhs were new notes and the remaining demonetized notes. -NSS

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