HYDERABAD: Banjara Hills police on Tuesday arrested 10 persons, including a Congress leader and an additional inspector, on charges of dacoity, and recovered `52 lakh in cash consisting of new `2000 notes.
Laxman Agarwal, a businessman from Kothagudem, came to the city on December 2 to exchange new currency notes through a mediator. He was threatened and robbed of `30 lakh.
Acting on his complaint, police registered a case of dacoity. During probe the police received complaints from two more persons that a Congress leader had threatened them and looted `48 lakh from them.
Subsequently, Congress leader Tirumalesh Naidu and Tappachabutra police additional inspector Y Rajashekar were identified as the key conspirators in the case. After the demonetisation move, Naidu and Rajashekar spread the word that they would give 22 pc commission if their demonetised notes were exchanged for new 2000-rupee notes.
Naidu, who has political background, mobilised some persons and told them to assist Rajashekar. Agarwal fell for the offer, came to the city with new currency notes and stayed at a guest house as directed by Naidu.
On the day of exchange, Rajashekar, posing as as task force police, threatened the businessman, and decamped with the cash. Later, they shared the spoils among them. Police also recovered two cars and one toy pistol.