DK police seize Rs 16.80 lakh legal tender being taken for 'commission' exchange

MANGALURU: Personnel of Puttur sub-division of DK district police apprehended three persons when they were on their way to exchange legal tender for the erstwhile demonetised high value currency notes in what is suspected to be a commission racket. Police personnel led by Ryshanth C B, assistant superintendent of police, Puttur sub-division based on a tip off carried out the raid and recovered currency worth Rs 16.80 lakh from the accused.
Currency seized from Jaffer Sharief, 28, Golthamajalu village in Bantwal taluk, Nazeer, 25, and Muhammad Iqbal, 26, both from Kalladka in Golthamajalu village in Bantwal taluk - included 840 currency notes of Rs 2,000 denomination, 19 bundles of Rs 100 denomination amounting to Rs 1,90,700 and 186 notes of Rs 50 denomination, amounting to Rs 9300.Police also seized a car in which the accused were travelling.
Ryshanth told TOI that a police team led by Mahesh Prasad, Police Inspector, Puttur Town PS and staff intercepted the trio while they were on their way to a drop off point. The accused told the police that they were instructed to hand over the currency to a contact at the drop off point and collect old demonetized high value currency in lieu. Of the three, while Sharief and Iqbal are first time offenders, Nazeer is an accused in an attempt to murder case.
The police seized the currency under section 41(D) of the Criminal Procedure Code and handed it over to the Income Tax authorities. The IT authorities will conduct their own investigations under provisions of the Money Laundering Act, 2002 the ASP said adding the police handed over the accused to judicial custody. SP Bhushan Gulabrao Borase lauded the alacrity shown by the ASP and his team in apprehending the accused and affecting the seizure.