Businessman held with scrapped notes worth Rs 4.23 crore

A local businessman was arrested by the Crime Branch on Wednesday with the scrapped notes worth Rs 4.23 crore.

New Delhi, Mar 29: A Janakpuri-based businessman has been detained with old currency worth Rs 4.23 crore, police said on Wednesday. The businessman was detained Tuesday by the Crime branch.

He informed the police that two persons, who claimed to be working with the Reserve Bank of India (RBI), had promised to convert his demonetised currency into legal money. The businessman was charging 50 per cent commission for getting the notes exchanged and it is suspected that he had promised to split half the commission with the two alleged RBI officials, police said.

The trio had a meeting at a city hotel few days back and the businessman was supposed to get Rs 20 crore in old currency for exchange.

He had received Rs 4.23 crore and had hired a cash van to take the amount, but was detained by the Crime Branch team, they said.

Further probe in the matter is being carried out by the IT department, police added.

PTI