Bengaluru Police Seize ₹2.98 Crore in Undocumented Cash, Arrest Two Businessmen
In a significant operation, the Mahalakshmi Layout Police in Bengaluru have seized ₹2,98,00,900 in cash from a shed in Kurubarahalli. The cash, stored in four bags, was found without any valid documentation. Two businessmen have been arrested in connection with the seizure.
According to police officials, the operation was initiated based on a tip-off received during night patrol on June 2. Sub-Inspector Rakesh and his team conducted a raid on a shed operating under the name Sheshadri Industries at 11th Cross, Kurubarahalli. During the search, they discovered four bags containing the cash. Senior officers were immediately informed, and officials spent the entire night counting the money.
The police informed the Income Tax Department and obtained court permission before registering a First Information Report (FIR) under Section 98 of the Karnataka Police Act, 1963, at the Mahalakshmi Layout Police Station. The cash has been seized.
The arrested individuals have been identified as Nagaraj, a businessman from Tavarekere, and Venkatesh, the owner of the shed. During questioning, they claimed the money was intended for business purposes and to purchase a house at an auction. However, they failed to produce any documents verifying the source of the cash. The police have stated that they could not corroborate these claims.
A detailed investigation is underway to determine the origin of the money and whether it is linked to any illegal financial activities. The authorities have not ruled out the possibility of further arrests.
