The duo had tried to rob businessmen on the pretext of converting old currency to new in the black market, The Hindu reported.

Bluru police arrest former crime branch DySP constable in currency exchange racket
news Racket Thursday, December 01, 2016 - 11:33

The Bengaluru police, on Wednesday, cracked two cases of abduction and robbery involving a retired DySP and a constable attached to the Central Crime Branch (CCB).  

The duo had tried to rob businessmen on the pretext of converting old currency to new in the black market, The Hindu reported.

The JP Nagar police picked up two associates of retired DySP Babu Noronha and initial investigation revealed that Noronha was part of a larger network that exchanged old currency for a commission. This led to Noronha’s arrest, the report said.

The DySP and his accomplices had allegedly taken Rs. 83 lakh in new currency from a realtor after promising to give him Rs one crore in old currency, the report said.

The modus operandi of Noronha’s gang was to identify businessmen and traders, having money that was accounted for. They were offered 20 per cent commission if they took old notes from people who have unaccounted cash, a senior police officer told the Times of India.

Last Thursday, three persons approached realtors Shivaram and Satish with an offer to exchange currency. The trio took Rs 80 lakh in Rs 2,000 and Rs 100 notes and promised to hand over Rs crore old currency, the Hindu reported.

The trio told Shivaram and Satish that they were CCB sleuths after reaching an isolated spot. They flashed their IDs and demanded to question the realtors about the source of the money, however, they later fled with the money, the TOI report said.

Babu Noronha had given them the idea of posing as CCB cops and helped them prepare fake ID cards, an investigating officer told The Hindu.

On Wednesday, a constable from the Central Crime Branch, Bengaluru, and four of his associates were arrested for extorting Rs 25 lakh from a shopkeeper, The Hindu reported.

The 43-year-old constable, B Shesha, G Byresha, 37, of KP Agrahara, P Vijay, 27, of Gopalapura, K Mannivannan, 36, of Bhuvaneshwari Nagar and Pavan were booked for abducting and robbing Jaishankar, who owns an electrics shop in Jayanagar and his friend Umesh, the report said.

The suspects had allegedly abducted Jaishankar and his advocate-friend near SJR College on November 2. They had released him after robbing him of Rs 20.20 lakh Jaishankar was carrying, the Deccan Herald reported. 

Jaishankar had offered his friend Rs 5 lakh for helping him exchange old currency notes worth Rs 30 lakh. Umesh, who knew Pavan, discussed the idea with Jaishankar and roped in the others, the DH report said.

It was decided that Jaishankar and Umesh would inform Pavan after they collected Rs 25.2 lakh new currency notes, a report by Deccan Chronicle said.

On November 26, the duo reached SJR College around 9 am. Shesha and two others intercepted the duo, assaulted them and drove the car to Madanayakanahalli, the Deccan Herald report said.

The suspects then snatched Rs 21.5 lakh from Jaishankar and fled the place after threatening to kill him if he informed the police, The New Indian Express reported.

On Tuesday night, Jaishankar filed a complaint with the police. Based on information furnished by Jaishankar, the police traced the owner of the vehicle in which they were abducted, the DH report said.

The vehicle owner, Manivannan is said to have confessed to the police and given them the details of the plan and the suspects’ names, the TNIE report said.

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