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Hyderabad: CBI flushes out Rs 70 lakh new currency from relative of postal official

The CBI sleuths, who earlier arrested a postal senior official for allegedly involved in fraudulent exchange of new currency notes, raided residence of the latter’s relative in Ibrahimpatnam in Ramga Reddy district on Friday and recovered Rs 70 lakh in the form of new Rs 2,000 currency notes. The raids followed a day after a special court remanded sent K. Sudheer Babu, senior superintendent of a post office in Hyderabad to judicial custody till December 23.

It may be mentioned here that Sudheer Babu had surrendered before the CBI officials on Thursday. Two others, Nitin and Narsimha Reddy, who acted as middlemen, were also arrested and sent to judicial remand. The premier Central investigation agency arrested four accused in the scam. Sudheer Babu allegedly handed over new Rs 2,000 notes of Rs 2.95 crore to middlemen for a commission. He had taken the new currency notes from the money sent to the postal department for exchange of demonetised notes of Rs 500 and 1,000.

The CBI also booked cases against two assistants in the office of Senior Superintendent of Post Office and employees of three post offices for committing irregularities in criminal conspiracy with Sudheer Babu. The CBI had earlier recovered Rs 17.02 lakh in new currency notes of Rs 2,000 denomination. (NSS)