Illegal Currency Trade Busted in Delhi, Police Stunned by Haul of Old Notes

Illegal Currency Trade: The Crime Branch in Delhi has exposed an illegal trade of old, demonetised currency notes.

Illegal Currency Trade: The Delhi Crime Branch has busted an illegal trade operating in the national capital for the past nine years, making it a topic of discussion. Questions are being raised about how currency, declared illegal by the government during demonetisation, was being traded on such a large scale.

The police have arrested four accused in this case. A bag filled with old 1000 and 500 rupee notes, valued at Rs 3.5 crore, was recovered from their possession. The police are investigating the matter. Police sources indicate that more individuals may be involved in this gang, hence the strict interrogation of the accused is ongoing.

Currency Banned by Government Nine Years Ago

The Central government announced demonetisation in 2016. Under this, on November 8, 2016, the Central government had withdrawn 500 and 1000 rupee notes from circulation. Under the Demonetisation Act, possessing, buying, selling, or transacting with these banned notes is a legal offence, with stringent penalties. Revealing this sensational case, the Delhi Crime Branch stated that based on a tip-off, a raid was conducted near Gate Number 4 of Shalimar Bagh Metro Station, where four people were apprehended with illegal currency on the spot.

Old Notes Worth Rs 3.5 Crore Recovered

According to the Crime Branch, old 1000 and 500 rupee notes worth approximately Rs 3.5 crore were recovered from the accused. The arrested individuals could not provide any concrete reason or valid documentation for buying or selling this old currency. The Delhi Police have registered a case under relevant sections of cheating, criminal conspiracy, and the Demonetisation Act. The four accused have been identified as Harsh, Tek Chand, Lakshya, and Vipin Kumar.

Why Were Old Notes Being Bought and Sold?

The Crime Branch reported that the raid was conducted based on a secret tip-off. A source provided concrete information regarding this illegal trade. The Crime Branch stated that a large quantity of old notes was being bought and sold. When a special team of Crime Branch officers laid a trap near Gate Number 4 of Shalimar Bagh Metro Station, the accused fell into the net. During the search of the arrested individuals, the police found a bag in their possession. Upon opening the bag, a hoard of banned 500 and 1000 rupee notes was discovered. Upon counting, the total value of these notes was found to be approximately Rs 3.5 crore.

Two Vehicles Also Seized Along With Old Notes

The Crime Branch took possession of the bag and also seized two vehicles belonging to the accused. These vehicles are suspected to have been used in the buying and selling of old notes. Preliminary interrogation at the police station revealed that the accused had purchased this defunct currency at a very low price and were dealing to sell it further at a higher profit. The police are now conducting intensive interrogation of all four accused to ascertain from whom they purchased this large quantity of old currency and how deep the roots of this illegal network extend.