The police have identified the arrested as Babu Noronha, a retired DySP, Constable B. Shesha, a police constable, Vijay, Manivannan; and Vijay, all member of a Kannada organisation. The police said Babu Noronha had given them the idea of posing as CCB cops and even helped them prepare fake ID cards.
The retired Dy SP Babu Noronha was arrested after the JP Nagar police picked up two of his accomplices who had taken Rs. 83 lakh in new currency from a realtor after promising to give him Rs one crore in old currency. Initial investigations revealed that Noronha is part of a larger network who exchange currency for a commission. The modus operandi of Noronha’s gang was to identify businessmen and traders who have money that is accounted for. They were offered 20 per cent commission if they took old notes from people who have unaccounted cash, a senior police officer said.
Last Thursday, three persons approached realtors Shivaram and Satish with their offer to exchange currency.
The trio took Rs. 80 lakh in Rs. 2,000 and Rs. 100 denomination notes and promised to hand over Rs. one crore in old currency notes. After reaching an isolated place, the trio told Shivaram and Satish that they were CCB sleuths. Flashing an ID card, they demanded to question the realtors about the source of the money but later escaped with the cash.
Babu Noronha had given them the idea of posing as CCB cops and even helped them prepare fake ID cards, an investigating officer said.
In another incident, a gang of five, including a constable attached to the Organised Crime Wing of the Central Crime Branch, was arrested for abducting a businessman from Rajajinagar last Saturday for a ransom of Rs. 25 lakh. The suspects are B. Shesha, a constable; Bhyresh, Vijay, Manivannan; and Vijay, all member of a Kannada organisation.
According to the police, the victim Jaishankar (42) owns an electric goods shop in Rajajinagar. He had recently exchanged Rs. 30 lakh in old currency with Rs. 25 lakh in new currency with six of his friends. The gang learnt about this. Posing as policemen, they abducted Jaishankar from his shop, took him to an isolated spot on the outskirts of the city and beat him. They released him after receiving Rs. 21 lakh.