A team from the Central Crime Branch, which raided a house in?J.?C.?Nagar on late Saturday night, have seized Rs. 9.10 crore worth currency notes in Rs. 500 and Rs. 1,000 denominations and have detained 14 people who were present at the house for trying to exchange demonetised notes, as they failed to produce documents to show the source of the cash. Two cars, two bikes and 15 mobile phones have also been seized from the suspects.
Among the arrested is Praveen Kumar, son-in-law of former Karnataka Legislative Council Chairman and MLC Veeranna Mattikatti.
On Mar. 28, the cops had arrested realtor, Nanjunda, when he was trying to exchange demonetised notes and had recovered Rs. 3 crore worth old notes from him. During interrogation, he disclosed information about a network engaged in the exchange of demonetised notes for Non-Resident Indians (NRIs).
Praveen Kumar had finalised a deal of 58% commission for exchange of old notes and had stored the cash at one Edwin Rozario’s house in Benson Town. He then requested an NRI, whose identity is yet to be known, to collect the notes from Edwin’s house, the Police said.
Following vital information from Nanjunda, the Police began to closely monitor the phone records of Praveen Kumar and his associates. On Saturday night, the Police were waiting near Edwin’s house in civil dress. However, the NRI did not turn up and the sleuths raided the house, a Senior Officer said.
All the14 persons who were arrested have been booked under IPC?Section 420 (cheating), CrPC Section 41B and Section 7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017, were produced before a Court, which remanded 13 persons to judicial custody while Edwin has been remanded to Police custody for interrogation.