CCB police arrest four for attempting to exchange demonetized currency

Bengaluru: Four people were arrested by the CCB police in different incidents for their alleged attempt to exchange demonetised currency; the police also seized Rs 4.98 crore from their possession.

In the first incident, the police arrested Ambrose David (42) and Arif Pasha (34) from Bengaluru and Felix (35) from Kerala. It is said that they were taken into custody when they were on their way to exchange the notes in Rajajinagar. They told the police that a businessman had promised them that the currency would be exchanged for a commission of 58%. The police have launched a manhunt for the businessman.

In the other incident, Nanjunda (46) was arrested and Rs 3 crore was seized form his possession. He was arrested after the police received a tip-off. He told the police that he was supposed to handover the money to an NRI; the police are now on the lookout for the NRI.