Note exchange rackets busted in Karnataka, new currency notes seized

Raichur based Sooraj Singh was arrested by Naganagalli police after a tip off about him transporting money for laundering purposes.

The Kalburgi police on Thursday arrested a 30 year old man for transporting Rs 25 lakh in new currency notes without valid documentation. Sooraj Singh has been arrested over suspicion of transporting money got exchange purposes.

Raichur based Sooraj Singh was arrested by Naganagalli police after a tip off about him transporting money for laundering purposes.

Rs 25.06 lakh that was found in Sooraj Singh's possession was all in new Rs 2,000 currency notes. The 30 year old along with the money and the vehicle that he used to transport the money have been taken into police custody.

Note exchange racket busted in Chitradurga

A raid on a water purifier agency led the Chithradurga Police to discovery illegally hoarded Rs 15 lakh in new Rs 2,000 currency notes.

Based on a tip off about money being exchanged and laundered on a commission basis, the police on Thursday raided Tarun Agency in Chitradurga and found the stashed money.

Out of the Rs15 lakh, Rs 11 lakh was in Rs 2,000 denominations, R's 3.90 lakh in Rs100 denomination. The police has arrested 29 year old Tarun and 25 year old Raju, a businessman.

A case has been registered and investigations into the source of the money as well as those that were interested in exchanging old notes with new ones are on. Investigating policemen said that the duo was exchanging money for a commission of 15%.

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