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7 held for cheating people with banned currency

BAGALKOT: Mahalingapur police workforce arrested seven persons, including two women, for allegedly the usage of demonetised forex notes to cheat folks.
The accused are Shantappa Nandrekar, Ganapati Mangasule, each from Takkalaki village in Jamakhandi taluk, Krishna Pawar of Jamakhandi town, Basavaraj Hadapad of Belagavi, Husensab Mallapure of Gokak, Mamataj Patel of Gokak and Sangeeta (Sangavva) Antale of Nagaral village.

They have been cheating gullible folks by issuing banned notes value Rs 1 lakh in return for Rs 25,000. They had additionally advised the people that the same Rs 1 lakh can be exchanged for Rs 50,000 in Pune and Mumbai.

The accused have been arrested while they have been sitting in a automobile near a bank in Mahalingapur. On seeing police, they attempted to flee, but in useless. During interrogation, they admitted to cheating folks.

Demonetised notes of Rs 500 of face value Rs 7.15 lakh have been recovered from a farmhouse at Sangavva in Nagaral village. Banned notes of Rs 1,000 of Rs 29.40 lakh face value have additionally been seized.

Mahalingapur PSI R L Dharmatti led the police raid on Saturday night.

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