December 17, 2016 4:58:58 am
THREE DAYS after arresting a Sector 22-based cloth merchant with new and demonetised currency notes worth Rs 2.19 crore, the local police got a major success and arrested a cluster head of a private bank from Mohali on Friday. The accused used to help main accused Inderpal Mahajan in getting demonetised notes exchanged with the new currency notes.
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According to sources in police, the accused has been identified as Bhupinder Singh Gill, a resident of Sector 37. The accused is Uttarakhand and Haryana cluster head of HDFC bank and was posted in Sector 70 branch of the bank in Mohali. The UT Police arrested him from the bank on Friday evening.
One of the police officials investigating the case said that Gill had known Mahajan for long as he was the latter’s customer and used to visit his shop. After demonitisation, they both made a plan and Gill promised Mahajan to help him in getting the demonitised notes changed with the new currency notes.
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The police sources said that the accused changed Rs 17 lakh demonitised currency with the new currency notes in the denomination of Rs 2,000 and Rs 500. The police officials said that Gill was exchanging money at a rate of 20 per cent.
After the arrest of Gill, the police are now looking for another bank official who is working in a public sector bank. The police officials said that they were also looking for some local businessmen who exchanged their money through both the accused. Gill was produced in the court and sent to two-day police remand.
Police and Enforcement Directorate have so far recovered Rs 2.19 crore and 400 gold from Mahajan while his three lockers are yet to be opened. The police suspect that the accused have bought gold and other jewllery with the money he amassed illegally.
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