The City police on Tuesday raided a house at Thondukadavu, near Eenchakkal, and seized unaccounted cash to the tune of over Rs.20 lakh.
According to V. Ashok Kumar, sub-inspector, Vanchiyoor, it was based on a tip-off on an illegal money transaction received by H. Venkatesh, City Police Commissioner, that a team from the Vanchiyoor police and the City Shadow Police raided the residence of Aboobaker, 70 .
Indian currency to the tune of around Rs.14 lakh, $ 3,300, and currencies from Saudi Arabia and the United Arab Emirates, along with a currency counting machine, were found in the house, Mr. Ashok Kumar said.
Aboobaker reportedly told the police that he got the currency as part of a money exchange business he ran. However, he could not produce necessary documents or the mandatory licence to run such a business, the police said, adding that while the money would be submitted to the court, the case would be handed over to the Enforcement Directorate.
