Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Mar 29: City crime branch police, who have intensified their operation against money exchange rackets involving demonetised currency notes, have succeeded in arresting four persons including two realtors in two separate cases. In both the cases, attempts were being made to exchange demonetised currency notes with new ones by drawing help from non-resident Indians who have been given time till March 31  to exchange their old currency notes.

Banned currency notes in the denominations of Rs 500 and 1,000 totally forth Rs 4.98 crore were recovered from the accused.

The arrested accused happen to be Nanjunda from D Street, Langford Town in Shantinagara here, Ambrose from Jayanagar area, Arif Pasha, resident of New Gurappanapalya, and Felix of Kerala origin. The police said that the accused were taken into custody through two separate raids conducted at Bashyam Circle in Rajajinagar and Shankarapuraa.

Nanjunda, involved with real estate business, had demonetised currency worth three crore rupees in his car. He was trying to  exchanging them near Maratha Hostel at Shankarpura, and the police got information about this. Immediately the police jumped into action and took Nanjunda into custody.

During his questioning, Nanjunda reporteldy told the police that his friends, Arun amd Manjunath, had given this money to him. He stated that he was told that a non-resident Indian would meet him and take this cash away. He confessed that he agreed to help them for commission.