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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.

News Nation Bureau | Edited By : Bindiya Bhatt | Updated on: 09 Dec 2016, 06:57:39 PM
CBI arrests postal official in Rs 2.9 crore cash exchange scam (Representational picture: Getty)


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.

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The 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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First Published : 09 Dec 2016, 06:45:00 PM