Police seizes Rs 64 lakh of new 2000 currency notes in Jaipur raids

Police officials revealed they seized the cash from three people following a tip-off on the transfer of currency

Police seizes Rs 64 lakh of new 2000 currency notes in Jaipur raids

In yet another nation-wide crackdown on money hoarders, post- demonetisation, police seized Rs 64 lakh including Rs 58 lakh in new currency of Rs 2,000 denominations from Jaipur in Rajasthan.

According to Assistant Commissioner of Police, Ratan Singh police nabbed three people in connection with the incident and informed the Income Tax Department about recent crackdown on money hoarders. 

Officials revealed police seized the cash from three people following a tip-off on the transfer of currency. 

Reportedly, the exchange was taking place for commission, when the police nabbed the team, further added officials.

Mr Singh was quoted as saying to ANI, “Rs 64 lakhs seized from three people on information that they exchanged currency on commission. Rs 58 lakhs in new notes.”

Police suspect a nexus between bankers middlemen and the black-money holders, as the arrests came in the wake of recent seizure of about Rs. 1.56 crore including Rs. 1.38 crore in new 2,000 currency notes from local branches of Integrated Urban Co-operative Bank.

The manager of a bank in capital has went into hiding after IT sleuths raided his firm and recovered about Rs 1.56 crore on Saturday. Officials said, they recovered a total amount of about Rs. 2.20 crore in the raids, which included  two-kilogram gold.

The crackdown has happened with in days after police recovered Rs 5.7 crore cash in new notes  from  an agent involved in illegal money transaction in the state. Police said, they found the currency hidden inside a secret chamber by the agent, when they raided his premises.

In another incident, IT authorities  seized  about Rs 13.5 crore in cash from a law firm in New Delhi on Sunday. The firm, T&T, is owned by  a Delhi based lawyer named Rohit Tandon.

The CBI also seized a about Rs 65 lakh in new currency in Hyderabad on Saturday, while investigating the shady deals of a note exchange racket in Telangana.

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