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.