New-Delhi: In the latest recoveries of banned currency, Delhi Police have arrested four men and seized demonetised Rs 500 and Rs 1,000 notes with a face value of more than Rs 3.5 crore.
According to police, a team from PP WPIA conducted a raid near Shalimar Bagh Metro Station Gate No. 4 based on secret information and apprehended four accused: Harsh (22), Tek Chand Thakur (39), Lakshya (28) and Vipin Kumar (38). Two vehicles used by the group were also seized from the spot.
“During enquiry, they admitted to exchanging these demonitized notes at a fraction of their value by falsely claiming they can be exchanged at the RBI, forming a clear case of cheating, conspiracy and violation of the Specified Bank Notes Act,” said officials.
Police added that none of the four had any valid documents or legal reason to hold the banned notes, indicating that they were allegedly attempting to “make quick money”.
“All four persons above know that possession of such demonitized notes is illegal, and they did not have any justified document or cause for holding them. They are involved in this matter to make quick money,” officials added.
The case has been registered, and further investigation is underway.