IT raids eight locations in Chennai, seizes 100 kgs gold, Rs 70 crore in new currency


New Delhi, December 8


In a big breakthrough, the Income Tax department on Thursday busted a money exchange racket operating from Chennai. The IT officials raided eight locations in Tamil Nadu capital and seized Rs 90 crore in cash, of which 70 crore are new notes, and 100 kgs of gold seized, according to sources.

The I-T department also questioned businessmen Sekar Reddy, Srinivasa Reddy and Prem in this regard.

Earlier on Wednesday, over Rs 1.75 crore were seized and eight people were arrested in raids at different places by the police and the CBI.

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