Gang providing new currency for old on commission arrested in AP ​

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VISAKHAPATNAM: As many as 10 employees of a security firm Scientific Security Management Systems (SSMS) private limited including its manager were arrested by the Visakhapatnam police on Thursday for siphoning off new currency notes from ATMs after manipulating the machines.
The SSMS employees were responsible for loading the money in the ATMs and taking care of its software, which helped them take away around Rs 74 lakh new currency notes since demonetisation.
Deputy commissioner of police (Zone 1) Visakhapatnam Naveen Gulati, speaking to media persons here said that the accused have been involved in similar criminal activities since the last two to three years and have siphoned off around Rs 1 crore from various ATMs in the city. After demonetisation, around Rs 74 lakh was siphoned off and from it around 39 lakh was given away in exchange for old notes for payment of commission.
“For about Rs 20 lakh new currency notes, the gang demands a cash of Rs 25 lakh old currency. The Rs 5 lakh is their commission and rest of the amount they have planned to fill in banks as against the Rs 1 crore amount which they have used. We have recovered around Rs 35 lakh currency, all new Rs 100 and Rs 2,000 denominations”, said Naveen.
The Railway Protection Force (RPF) officials on Thursday arrested Dasari Srinivas, the main accused who was moving suspiciously with cash of around Rs 15 lakh all in new Rs 2,000 denominations in Rajahmundry. The officials suspecting a foul play sent him to Income Tax (I-T) department. As the person belongs to Visakhapatnam, the I-T officials forwarded the case to I-T Visakhapatnam, who in turn forwarded it to the local police. Local police after launching investigation cracked the crime.
The police found out that, three persons in the gang move around looking for potential clients who are in dire need of money and can offer a commission while the rest of them stayed back in Vishakhapatnam. According to police, Srinivas was on the way to Rajahmundry, as the gang found a party, who has agreed to take some new currency in exchange of old currency apart from the commission.
However, the police are yet to find out the person they had a deal with Rs 39 lakh new currency. The 10 accused include driver, loaders, security persons etc. who have been loading and checking the software of as many as 128 ATMs in Vizag which include 97 SBI, while few belong to HDFC and others.
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