STOCK MARKET BSE NSE

Four held in Bengaluru for trying to exchange scrapped Turkish notes worth Rs 71 crore

Head constable previously attached to the district crime Intelligence Bureau too part of the gang; accused were ready to exchange currency for as low as D27 lakh

Published: 22nd June 2017 09:59 AM  |   Last Updated: 22nd June 2017 09:59 AM   |  A+A-

By Express News Service

BENGALURU: FOUR persons, including a head constable previously attached to the district crime Intelligence Bureau, a small-time film producer and a teacher, have been arrested while they were trying to exchange demonetised Turkish Lira worth Rs 71 crore with Indian currency worth Rs 27 lakh.

Marathahalli police on Tuesday arrested Nagaraju (40), head constable with Chitradurga district police, Shivaraju (50), government primary school teacher in Chitradurga district, Murali (40), a resident of Mattikere and a film producer, and Aravind (40), a realtor in Davangere. Police are on the look out for Chenna Reddy, a realtor from Andhra Pradesh.

According to the police, a man called Shakir was contacted by a person in Chitradurga over phone. The unknown person would call and tell Shakir that he has huge amount of high-value Lira which can be converted into crores of rupees.  When Shakir showed an interest, they decided to meet on Tuesday. It was then that Nagaraju came into the picture. To convince Shakir, he brought a Lira note and showed it to him. But Shakir smelled a rat and, on the same day, informed his business partner Chellaiahswamy who filed a police complaint.

Police then decided to lay a trap and instructed Shakir to ask Nagaraju to come at Marathahalli on Tuesday evening to exchange the notes. The exchange was to take place at the parking lot of Innovative multiplex
At 8.45 pm, Nagaraju and his associates came in an Alto car and called Shakir over phone. A team of policemen went along with Shakir disguised as his friends. Police also cordoned off the area.

Shakir then met Nagaraj who asked him about the Rs 27 lakh. But, when the policemen started to close in, Nagaraj panicked and tried to shoot with his service revolver. However, police managed to nab him and his associates. Police said, “During his stint in the District Crime Intelligence Bureau, he was given a service revolver, which he had not returned after his transfer, which is illegal.”

Police have seized scrapped 78 notes of Turkish Lira in denomination of 5 lakh which is worth Rs 71.29 crore in Indian currency.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp