Hyderabad postal scam: Rs 66 lakh seized from Sudheer Babu's relatives

Hyderabad: CBI officials seized around Rs 65,66,000 in cash in new Rs 2,000 notes from the residences of the relatives of K. Sudheer Babu, who was allegedly involved in diverting the new currency from post offices under his control.

A fourth FIR was registered in this case against K. Sudheer Babu, the senior superintendent of post offices in Hyderabad division, and two other employees of the postal department.

K. Sudheer babu had kept the money as his commission for allegedly  exchanging over Rs 3.75 crore in old currency with new ones, CBI officials said.

“The seized amount was his commission from the Rs 3.75 crore, which he had misappropriated by fraudulently exchanging old currency for new notes from post offices falling under his division. So far, the CBI has seized Rs 92.68 lakh in Rs 2,000 denomination notes in these cases,” they said.

Four people have been arrested as part of the investigation and remanded to judicial custody.

On Friday, the CBI registered a case against K. Sudheer Babu and K. Janardhan Reddy, the officiating sub postmaster at Parishram Bhavan, for fraudulently exchanging demonetised notes for new notes of Rs 2,000 denomination worth Rs 80 lakh at the Parishram Bhavan sub post office in Hyderabad.  

The CBI and ACB Hyderabad have registered four cases to investigate the alleged frauds.