Bengaluru: The police are yet to recover the Rs. 83 lakh that former Dy. SP Babu Noronha and his associates, including a constable, conned out of businessmen and realtors in and around JP Nagar. The police busted the gang after they took Rs. 83 lakh from two realtors by promising to convert the old currency into new notes for a fee.
While Babu Noronha, who is allegedly the kingpin of the gang, has been remanded in judicial custody, co-accused Lohith is in police custody. “He claimed to have used his share of Rs. 12 lakh to repay loans. We are verifying his claims and are in the process of recovering the money,” a senior police officer said.
Lohith reportedly alleged that Babu Noronha had planned the racket. The retired Dy. SP allegedly taught his associates how to evade the police and dodge investigations.
However, all his plans went awry when the police tracked down Lohith.
The modus operandi of Noronha’s gang was to identify businessmen and traders who were desperate to exchange huge sums of cash (in old denominations). After collecting the cash, they would inform their victims that they were undercover cops with the Central Crime Branch.
