The CBI has registered 84 cases (07 Preliminary Enquiries) and unearthed Rs 396 crore relating to illicit currency exchange that took place after the Government announced demonetisation of Rs 1,000 and Rs 500 notes a year ago. The 84 cases involving 183 public servants are related to fraudulent exchange of demonetised notes at commercial banks, co-operative banks, post offices, railways and insurance companies.
Besides, 124 private persons have also been found involved. Of them, 26 have been arrested. The agency has acted on more than 500 references received from general public and other agencies. CBI also conducted joint surprise checks on banks and others. After one year of the demonetisation, the Government is celebrating it as "anti-black money day" while opposition performing protest against the move calling it as "black day".
During investigation, CBI has so far arrested 21 public servants and 26 private persons out of 307 accused (including public servants & private persons) found to be involved in these cases. Demonetised and new currency worth crores and large number of incriminating documents has been recovered so far. Chargesheet has been filed in 12 cases and regular department action has also been recommended in a few cases.
"Some private individuals were nabbed with huge amounts of new currency. Since the restrictions on individuals in terms of withdrawals of new currency, investigation is to find out how they could come in possession of such amounts.
The ongoing investigation is expected to reveal involvement of more public servants," CBI Spokesperson Abhishek Dayal said.
According to CBI, a total 59 cases have been registered mainly the fraudulent exchange of old currency notes that took place at commercial and cooperative bans, followed by Post Offices where 18 cases have been registered. Five cases have been registered against Railways and one against Insurance Department employee.
"Several shell companies were identified during the course of investigations. Concerned law enforcement agencies have been informed of these shell companies for action on their part.
Misuse of Aadhaar cards or numbers of children was found in certain cases to deposit old notes.
Some Cooperative banks were used by unscrupulous individuals to exchange ill gotten and undeclared money kept in cash," CBI sources said.
The CBI claimed that it was ensured that every information related to such violation of laws should be entertained and examined and if required, cases should be registered. The agency received 92 complaints from the general public which reported such illegal exchanges in various organisations, it said.
Several agencies like Income Tax, Enforcement Directorate and the CBI have seized demonetised currency with face value in crores in the last one year and arrested several persons attempting to exchange their ill-gotten money or those helping them for the purpose after the Prime Minister Narendra Modi on November 8, 2016 declared Rs 1,000 and Rs 500 notes as "invalid tender".
Two Managers of Surat branch of Bank of India and one private person were arrested for forging documents to open account and depositing over Rs 24 crores and then diverting the money to the accounts of other accused in Gandhinagar. In another case, a private individual committed forgery to open and deposit Rs 36 crore in old notes in four branches of Surat Peoples Cooperative Bank in Gandhinagar.
The Deputy Manager of Axis Bank, Burra Bazar Kolkata, was arrested for opening bogus bank accounts in names of non-existing companies on basis of fake documents and depositing over Rs 7 crore of old currency notes.