CBI nets `65.66 lakh from kingpin’s kin

Hyderabad: The Central Bureau of Investigation (CBI) has recovered over Rs 65 lakh in new currency notes which had been stashed away by postal scam kingpin K Sudheer Babu in his relative’s house at Ibrahimpatnam.

Sudheer Babu, who was sent to prison on Friday in connection with the three cases registered against him for misappropriation of over Rs 3 crore, disclosed during interrogation that he had concealed 65,66,000 -- all in new currency in the denomination of Rs 2,000 -- in his relative Tulasiram’s house in Ibrahimpatnam. According to CBI officials, Sudheer Babu had kept aside the money as his share of commission for fraudulently exchanging old currency notes for new currency notes in conspiracy with postal department staffers.

Meanwhile, the CBI team registered yet another case of misappropriation of funds by postal department officials in which it named Sudheer Babu as the main accused, while officiating sub post master of Parishram Bhavan sub post office, K Janardhan Reddy, was named as another accused. The case has been registered on the allegation that the officialsmisappropriated new currency notes totaling Rs 80 lakh. With this, the CB team has so far registered four cases in connection with the currency exchange fraud detected at Himayatnagar, Golconda, Karwan Sahu and Parishram Bhavan sub post offices.

In all the cases, Sudheer Babu is the kingpin, who acted along with a few middlemen and certain support staff of the postal department. The team conducted searches at 12 places in connection with the four cases and has recovered Rs 92.68 lakh in new currency notes, 55 incriminating documents, a few laptops and mobile phones.