Hyderabad postal scam: CBI seizes Rs 66 L in new currency

The worth of the city postal scam has just gone up to Rs 3.75 crore with the fresh seizure.

Published: 11th December 2016 03:44 AM  |   Last Updated: 11th December 2016 07:09 AM   |  A+A-

CBI sleuths display I66 lakh seized cash, all in the denomination of I2,000, in Hyderabad on Saturday | Express photo

By Express News Service

HYDERABAD: In another major seizure while inquiring into the postal scam allegedly carried out by Indian Postal Service (IPoS) officer K Sudheer Babu, the sleuths of Central Bureau of Investigation unearthed Rs 65.66 lakh, all in newly released currency notes. The worth of the scam has just gone up to Rs 3.75 crore with the fresh seizure.

Babu, senior superintendent of post offices, Hyderabad city division, and officer of 2011-batch, was arrested for his role in fraud in postal offices after demonetisation, on Friday.

Apart from three cases already registered, CBI tagged a fresh case against him on Saturday. So far, the CBI officials have seized Rs 92.68 lakh of new currency in Rs 2,000 denomination, in these cases. Investigation has revealed that Rs 3.75 crore was misappropriated by Sudheer Babu fraudulently by exchanging old currencies for new currencies from the post offices falling under his division.

On Saturday, a day after his arrest, the Central Bureau of Investigation (CBI) Hyderabad unit officials carried out raids at  the residences of Sudheer Babu’s relatives located in Ibrahimpatnam and seized `65.66 lakh cash of all new currency notes. 

Police display seized notes in Mahbubnagar
on Saturday| express

During investigation, Sudheer confessed to his offence in connection with the fraud that took place in post offices in the city. Based on the confessional statement, the CBI officials seized the cash.  Sudheer safely kept his commission amount at his relative’s house located at the outskirts of Hyderabad.

CBI officials swiftly seized Rs 65.66 lakh cash all new currency in the denomination of Rs 2,000,” officials said.  The four cases against Babu was registered by CBI based on the complaint forwarded to them by the vigilance wing of postal department.

K Janardhan Reddy, officiating sub postmaster at Parishram Bhavan is the co-accused with Babu in the fresh case on charges of fraudulently exchanging demonetised notes with new notes of Rs 2,000 denomination to the tune of Rs 80 lakh at Parishram Bhavan sub post office, Hyderabad.  Earlier, receiving credible information on the misappropriation at post offices, the CBI officials along with the vigilance wing of postal department carried out surprise checks at Himayatnagar, Golkonda and Karwan Sahu Chowk sub post offices and found misappropriation of new notes to the tune of Rs 2.95 crore.

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