After the demonetization of old currency notes of Rs. 500 and Rs. 1,000, the Central Bureau of Investigation has been acting very swiftly against all those who are involved in money laundering and exchange of currencies.
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On Tuesday, CBI made an arrest in Bengaluru; the accused is an employee of RBI and he has been charged with money laundering. The name of the employee is Michael Kattukaran and he is a senior special assistant at the RBI’s issue department, Bengaluru.
The arrest has been made with regard to the money-exchange racket which has its linkage to the Kollegal Branch of State Bank of Mysore. Moreover, CBI has also arrested two other persons in connection with this case and revealed that Rs. 17 lakhs have been recovered from the accused.
The head cashier of SBM, Parashivamurthy, has also been involved with Michael in 12 money laundering cases and they are said to be guilty of exchanging old notes worth Rs. 1.51 crores with the new currency. Till now, many bank employees have been arrested by CBI but this is for the first time that they have laid their hands on an employee of the Central Bank.
TOI was told this by RBI Officers,
“Michael was sent to the currency chest in Kollegal to remit new currency notes after the announcement of demonetization. He allegedly joined hands with Parashivamurthy and others to convert money benefiting 13 parties for a 30% commission.”
What do you have to say about these people who are hindering the fight against black money? Let us know your views in the comments section below.
