Hyderabad: Four arrested with Rs 42 lakh in demonetised notes

The task force team of the Hyderabad police seized Rs 42 lakh in demonetised currency notes on Saturday. Four persons in whose possession the illegal notes were found have also been arrested. A team of policemen swooped down the team possessing old Rs 500 and Rs 1,000 notes following a tip-off. The police claim that the four were arrested when they were attempting to exchange the old notes.

The police are in the process of verifying if the team indulged in money laundering business popularly referred to as 'black and white', post the demonetisation period. While an FIR has been registered against the four accused, further investigations to verify if more persons are involved in the case are on. In March earlier this year, the task force police had seized a massive stash of Rs92 lakh in demonetised notes. Two persons were arrested in connection with the case.

The task force team had earlier in the day busted two cricket betting rackets. two persons were arrested and Rs 7 lakh was seized along with a television and two mobile phones.

OneIndia News