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Saarang Hero Username: Saarang Post Number: 14418 Registered: 06-2012 Posted From: 206.29.176.53 Rating: N/A |
Sudheer Babu is absconding since last week, said a source. He was reportedly given Rs. 48 crore in Rs. 2000 notes denomination from the Postal Department for disbursal to the public between November 9 and 19. To divert the new Rs. 2000 notes, Sudheer began sending huge amounts to small post-offices. In fact, employees from some branches even told him that they did not need such huge amounts. Sudheer decided how much cash was to be given to each post-office. While most got Rs. 5 lakh to Rs. 10 lakh, some received huge amounts. In some cases he showed that the money was distributed without actually doing so. To avoid suspicion, he told the employees that the demonetised cash was being exchanged on orders from the head office, informed sources. Sudheer Babu committed the fraud for a commission of 20 to 25 per cent, and is believed to have kept about Rs. 60 lakh with himself. However, only Rs. 9 lakh to Rs. 10 lakh in new notes have been retrieved so far. | ||
Saarang Hero Username: Saarang Post Number: 14417 Registered: 06-2012 Posted From: 206.29.176.53 Rating: N/A |
http://www.thehindu.com/news/cities/Hyderabad/Money-exchange -fraud-four-more-held/article16774095.ece Another money exchange fraud to the tune of Rs.1.2 crore by K. Sudheer Babu, Superintendent of Post-Offices, Hyderabad division, was unearthed by the Central Bureau of Investigation (CBI) at the Karwan post-office on Wednesday . This is the third post-office where Babu exchanged demonetised currency for the new Rs. 2000 notes. Four others involved in the fraud were arrested and sent to judicial custody. So far, the CBI has booked three cases against Sudheer Babu on November 24, December 3 and 6, for committing the money exchange fraud at Himayathnagar (Rs. 36 lakh), Golconda (Rs. 1.3 crore) and Karwan post-offices (Rs. 1.2 crore). With this, his malfeasance in the crime has touched nearly Rs. 3 crore and officials expect more to be unearthed, said sources. |