12 held for loot and kidnap for Rs 3 crore in demonetised notes

Elaborating the sequel of the events leading to the arrests, police said that one  Paulraj, a manager in a windmill company and also running a scrap yard at Aralvaimozhi, possessed demonetised currency notes of Rs 500 and Rs 1,000 to the tune of Rs 3 crore. He had approached a broker, named Jeyapaul, from Melapalayam, to exchange the old notes. 

Jeyapaul informed him that the notes can be exchanged to new currency with the help of a person at Veppankudi. Based on the information, Paulraj and his men started in a car to Veppankudi. But, mid-way, a gang intercepted and robbed them off the old notes.  

Paulraj suspected it to be the handiwork of Jeyapaul. He though that the broker should be behind the incident as the issue was not known to anyone and hence went to his house at Melapalayam. As he was not there Paulraj and his men kidnapped his son Suresh. When Jeyapaul came to know about this, he informed the Melapalayam police. Only when the Melapalayam police started investigating Jeyapaul, they came to know about the whole incident and secured Jeyapaul. 

In the interrogation, he informed the police that he had employed a gang from Kanniyakumari to rob the old notes. Following it, the Tirunelveli city police, who had taken up the currency case, went in search of the gang and arrested them. The money too was seized. 

In the meantime, another police team tracked Paulraj and arrested him. The son of Jeyapaul was also secured from the gang. Police arrested 12 persons in all in this in connection and also seized the old notes and the vehicles used by them.