The Amruthahalli police have arrested three persons after finding Rs 47 lakh being transported in a Sports Utility Vehicle (SUV) on Friday.
Deputy Commissioner of Police (North-east) T.R. Suresh said the three men are Nagendra Kumar of Pantharapalya (40), Jeevan Sagar of JB Nagar, (45) and Raghu Raj (30) of Uttarahalli. They were transporting the cash from Banaswadi to Vijaya Nagar.
Following a tip-off, a police team tried to stop the car near Hebbal on Outer Ring Road, but the trio dodged them. Eventually, police intercepted the vehicle in Frazer Town.
Upon checking, the police found the cash of Rs 500 and Rs 1,000 denomination concealed in various parts of the car.
The trio claimed that the money was the proceeds from the sale of a residential site, but failed to provide any supporting documents.
Police suspect that the cash is connected with the election campaign.