India, Dec. 12 -- Delhi Police have busted a racket dealing in demonetised Rs 500 and Rs 1,000 notes and arrested four men with currency worth Rs 3.59 crore. The arrests were made near Shalimar Bagh Metro Station during a planned raid by a team of Police officials. Two cars used in the operation were also seized.
Police said the accused were offering demonetised notes at throwaway prices. They convinced buyers that the notes could be exchanged at the RBI on the basis of Aadhaar. Officers said the gang wanted fast profits and knew the notes had no legal value.
"This gang was cheating people by selling old notes at low rates and claiming they could get them exchanged at the RBI. The team acted quickly and stopped a large fraud," DCP North-W...