3 arrested for trying to exchange Rs 5 crore banned currency

Mahalakshmi Layout police have arrested three persons including a real estate agent involved in money laundering and seized banned currency notes of Rs 5 crore value, reports Kannada Prabha.

The arrested are Mohammad Aslam of Jayanagar, Manjunath of Nelagadarahalli, Kalingappa of Ballari. The trio had parked a car at Mahalakshmi Layout bus stand and were walking about suspiciously. The police held and questioned them and it was revealed that they were involved in currency exchange. Aslam is a contractor and real estate agent. He was trying to exchange old notes with the help of his friends. Kalingappa was the middleman. Manjunath is Aslam’s car driver. It is not revealed yet who they were going to meet. Investigations are on, said the police.

• money laundering
• demonetisation
• karnataka news