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Police raid ex-corporator house, find old currency worth Rs 40 crore

Bengaluru: The Bengaluru Police on Friday raided the house of a former corporator and recovered old currency notes of Rs 500 and Rs 1000.

The police have stated that the old currency notes seized from the former corporator V Nagraj’s house is worth approx 40 crore.
The police have stated that the old currency notes seized from the former corporator V Nagraj’s house is worth approx 40 crore.

The police have stated that the old currency notes seized from the former corporator V Nagraj’s house is worth approx 40 crore.

The police raided Nagraj’s house after the police received an information regarding the availability of demonetised currency worth Rs 40 crore.

“We found the illegal cash in the house of ex-corporator Nagaraj, 54, during a search conducted on a court warrant in a criminal case and seized the banned notes in Rs 500 and Rs 1,000 denomination,” Hennur Police Station Inspector N Srinivas told media.

However, Nagraj was not present at his home when the police knocked off his residence for search.

The Police Inspector also added that the Nagraj is involved in a number of criminal cases and a search operation is currently underway to capture him.

Nagaraj is also alleged have been involved in converting black money into white by exchanging the old currency notes.

He was elected as an Independent corporator of the Bangalore Municipal Corporation in 2002 from the Prakashnagar civic ward in the city’s west.

Inputs with ANI
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