Hyderabad: CBI arrests Indian Postal Service official in Rs 2.9 crore cash exchange scam

The Central Bureau of Investigation (CBI) on Friday arrested an Indian Postal Service (IPoS) officer K Sudheer Babu over fraudulent cash exchange transactions to the tune of Rs 2.9 crore, reports said.On December 8, the CBI sleuths had registered a third case against Sudheer Babu for fraudulent exchange of Rs 1.2 crore demonetised notes at Karwan Sahu sub post office.

The CBI probe revealed that he exchanged a total of Rs 2.95 crore old currency from three post offices.

CBI had on December 8 booked a case (RC 28(A)2016) against Sudheer Babu and some other officials under various sections of IPC and Prevention of Corruption Act, 1988 for fraudulent exchange of `1.2 crore.

ALSO READ | Black money crackdown: Biggest seizure of Rs 142 cr cash, gold post demonetisationThe first two cases were registered against Sudheer Babu and others in similar frauds committed at Himayathnagar and the Golconda post offices.

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