HYDERABAD: The kingpin of the ` 2.95 cr postal scam K Sudheer Babu surrendered before the sleuths of Central Bureau of Investigation (CBI) here on Thursday. Babu is the senior superintendent of post offices and main accused in the scam. He is alleged to have handed over new currency notes worth crores of rupees, meant for exchange of demonetised currency notes, to middlemen for a commission.
An Indian Postal Service (IPoS) officer of 2011 batch, Babu has been absconding for the last few days and not attending duties.
“ CBI has made all-out effort to trace him by searching at all probable locations. Because of the constant pressure put up by the agency, he was forced to surrender and is now being interrogated,’’ CBI officials said.
Investigation revealed that Sudheer Babu has fraudulently exchanged crores of rupees with middlemen for a commission. These fraudulent exchanges were done with new notes of `2,000 denomination which were otherwise meant for public disbursal.
After the Centre announced ban of high value notes on November 8, the Hyderabad unit of the CBI received credible information that several malpractices have taken place at various post offices in Hyderabad.
The CBI officials carried out surprise checks at Himayatnagar, Golkonda and Karwan Sahu chowk sub post offices and found misappropriation of new notes to the tune of `2.95 crore.