Rs 1,000 crore seized from K’taka, Goa since demonetisation

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The income tax department has seized unaccounted currency worth Rs 1,000 crore since the November 8 demonetisation announcement in Karnataka and Goa alone.

The net worth of unaccounted currency from 36 cases crosses a whopping Rs 1,000 crore.

Officials from the IT department continued raids in Bengaluru and Goa on December 12 and 13, unearthing more unaccounted for money and laundering rackets. Searches at the house of a Yeshwanthpur resident in Bengaluru led the officials to unaccounted cash of Rs 2.89 crore, out of which Rs 2.25 crore of the cash was in new Rs 2,000 currency notes.


The IT department said that the house was guarded by an aged woman who put up minor resistance. All the unaccounted cash has been seized and investigations are on.

[Also Read: K'taka: Hawala dealer's 'secret chamber' reveals Rs 5.7 crore cash, 28 kg gold bars]

In Goa, officials seized Rs 67.98 lakh, also in new Rs 2,000 currency notes. Officials posed as clients wanting to exchange money, to nab persons involved in the money laundering racket. A vehicle ferrying the cash was intercepted and a person coordinating the exchange was also arrested.

The money was in the possession of persons from Banda, a bordering locality between Maharashtra and Goa.

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