CBI conducts raids at Golconda PO, seizes records

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HYDERABAD: Continuing their investigation into the fraudulent demonetised currency exchange done by Indian Postal Service (IPoS) officer K Sudheer Babu, Central Bureau of Investigation (CBI) officials on Saturday conducted searches at Golconda Post Office and seized evidence pertaining to 1.3 crore cash exchange.

According to CBI sources, senior superintendent of Post Offices, Hyderabad, K Sudheer Babu, who was charged for exchanging 36 lakh demonetised notes at Himayatnagar Sub Post Office, was the mastermind in executing some more such transactions in the city, including the one at Goclonda post office.

The CBI sources said on November 16 and November 19, Sudheer Babu gave 1.3 crore demonetised currency to his office assistant, G Ravi Teja, to exchange with new currency at Golconda post office. Based on the oral instructions of Sudheer Babu, Golconda post office officials, Govind Rao and Etimad, took the demonetised currency brought to them by Ravi Teja and gave him new currency notes of the same value. Ravi Teja was assigned the task of distributing new currency notes to the post offices in Hyderabad to exchange with the demonetised currency. The CBI sleuths discovered that the exchange request slips received from the people who exchanged their demonetised currency at Golconda post office did not match with the amount of cash exchanged on November 16 and November 19 as the staff gave 1.3 crore to Sudheer Babu in an illegal manner.

The CBI seized the records from the post office and also conducted searches at the houses of the accused. They seized Rs 3.5 lakh cash from the house of Ravi Teja and searches were also being conducted at a few more post offices in the city.