Bengaluru: Police seize ₹2.98 crore in undocumented cash; two businessmen arrested
In a major cash seizure, the Mahalakshmi Layout Police recovered ₹2,98,00,900 in undocumented cash from a shed in Kurubarahalli. The cash, packed in four bags
In a major cash seizure, the Mahalakshmi Layout Police recovered ₹2,98,00,900 in undocumented cash from a shed in Kurubarahalli. The cash, packed in four bags, was allegedly kept without any valid documents, leaving even the police team stunned. The money reportedly belongs to Nagaraj, a businessman from Tavarekere who had allegedly stored it in a shed owned by his friend Venkatesh in Kurubarahalli.
Acting on a tip-off received during night patrol on June 2, Sub-Inspector Rakesh and his team raided a shed operating under the name Sheshadri Industries at 11th Cross, Kurubarahalli. During the search, police found four bags containing ₹2.98 crore in cash. Senior officers were immediately informed, and officials spent the entire night counting the money. After informing the Income Tax Department and obtaining the court’s permission, the police registered an FIR under Section 98 of the Karnataka Police Act, 1963, at the Mahalakshmi Layout Police Station.
The cash has been seized. The police have arrested Nagaraj and Venkatesh. During questioning, the accused reportedly claimed that the money had been brought for business purposes and to buy a house at an auction. However, they failed to produce
valid documents establishing the source of the cash, and the police could not corroborate their claim. The police have launched a detailed investigation to ascertain the origin of the money and whether it is linked to any illegal financial activities.
The BriefWire