After promising to change notes, gang loots businessman

MANDYA: Mandya police busted a gang which was involved in converting of black money into white, arrested 14 miscreants and seized Rs 66.50 lakh rupees in old and new currency notes.
At a press conference in Malavalli town on Tuesday, SP Sudheerkumar Reddy gave details of a gang which was active in converting black money into white. According to Reddy, the arrested persons led by kingpin Dileep had duped four persons and looted Rs 66.50 lakh rupees from them on December 12.
Dileep is said to have hoodwinked Srinivas, a hotelier, and his friends Raju, Manjula, Srinivas and Anand, after promising them Rs 1 crore in old currency notes for Rs 66.50 lakh in new currency.Believing Dileep, Srinivas and his friends went to meet him in a car. But Dileep had a different plan in mind: he wanted to loot the new currency notes with his friends.
On December 12, when Srinivas and his friends were travelling to meet Dileep, some miscreants waylaid them and lootedtheir money. The next day, Srinivas lodged a complaint with the police, alleging that unknown miscreants had looted them of Rs 55.60 lakh new currency notes, which they were carrying to exchange for Rs 1 crore in old currency notes.
A team headed by ASP Savita zeroed in on Dileep and arrested his 13 accomplices who had attacked and looted the money.
The arrested persons are TV Anand, Rajesh, Anand, Abhishek, Purushottam, Vasu, Babu, Umesh, Chennakeshava, Cheluvaraju, Mahadevaswamy, Ramalinga and Manja.
The police seized a car, mobiles and bikes from the miscreants. "Now, we are focusing on how Srinivas and his friends managed to amass new currency notes. Also, we will investigate whether bank officials have helped Srinivas and his friends collect new currency notes," SP Reddy said.