Three postal staff booked for Rs36 lakh currency exchange fraud

CBI has booked three postal department officials in Hyderabad, including a senior superintendent of posts, for allegedly converting old currency notes worth Rs36 lakh into new ones without necessary documentation.

CBI has registered a case against K Sudheer Babu, senior superintendent of posts, Hyderabad, G Revathi, sub-postmaster, Himayathnagar sub-post office and G Ravi Teja, working as office assistant at office of SSPOs and unknown other public servants and private persons for criminal conspiracy and criminal breach of trust, falsification of accounts and provisions of Prevention of Corruption Act

The agency has filed charges against the accused of criminal conspiracy with other public servants and private persons and abusing their official position to fraudulently exchange Rs36 lakh in old notes of Rs500 and Rs1,000 with the new currency notes of Rs2,000 without genuine documents.

The alleged fraud took place on 12 November, CBI said, adding that the money was meant for disbursement among the general public for their genuine needs and the postal staff have by their act misappropriated the money.

CBI carried out surprise check at Himayathnagar sub-post office, on 24 November, based on "credible information" of alleged irregularities being committed by postal officials in the conversion of currency notes.

They allegedly replaced the demonetised Rs500 and Rs1,000 notes with new Rs2,000 notes without carrying out proper documentation.

According to the CBI, the postal staff carried out transactions for public servants as well as private individuals, though these have not been identified.

CBI believes they took the old Rs500 and Rs1,000 notes and illegally gave out new Rs2,000 notes meant for public disbursal on 12 November.

On interrogation, Babu is reported to have admitted to exchanging the notes without the filing paperwork, Deccan Chronicle reported, quoting an unidentified official.