Hyderabad: 8 held for robbing businessman of Rs 58 lakh in new currency | india-news | Hindustan Times
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Hyderabad: 8 held for robbing businessman of Rs 58 lakh in new currency

india Updated: Dec 08, 2016 22:41 IST

8 members of a gang were apprehended for allegedly robbing a businessman in Hyderabad.(HT Photo)

Police said on Thursday they have apprehended eight members of a gang that allegedly robbed Rs 58 lakh in new notes from a businessman who had struck a deal to exchange their scrapped banknotes in Hyderabad.

On coming to know that the businessman has lakhs of rupees in new currency notes, the gang allegedly entered into a deal with him to exchange old notes for 25% commission, police said in a release.

Accordingly, the businessman brought Rs 58 lakh in Rs 2,000 and Rs 100 denomination at 2.30am on the intervening night of December 4-5 near the GHMC playground. The gang members then thrashed the businessman and fled with bags containing the cash, it said.

Acting on a complaint by the victim, police lodged a case of dacoity and formed special teams that nabbed the eight members of the gang last night. One person is absconding.

After completion of investigation into the dacoity case, police would focus on the money acquired by the victim’s uncle in Rs 2,000 notes in high quantity. The uncle allegedly had handed over the money to the complainant, it said.

Police would also check if the businessman used his workers for exchanging scrapped notes in the bank. The I-T department will be intimated about the new currency notes of Rs 2,000 acquired in huge quantity by the complainant and his uncle, the release said.