LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Suspicious packages left in public service vehicles vary from the dangerous to the bizzarre, however for one particular rickshaw driver in Chennai, India, a bag which was filled with several foreign currencies led to the investigation of a fraudulent FX scheme.
Ramesh Kumar picked up a customer at the pre-paid counter at the City Railway Station in Bangalore, Southern India, and drove to BTM Layout, which is a neighbourhood in South Bangalore, Karnataka, India. BTM Layout is an abbreviation, representing the neighborhood’s geographical location between Bannerghatta, Tavarkere and Madivala.
When the customer exited the rickshaw, he accidentally left behind the bag, which Mr. Kumar handed in to the railway police. The police found 4,100 Euros, 10,000 Malaysian Ringgits, 2.99 lakh Sri Lankan Rupees, 45,805 UAE Dirham and Rs. 11,000 in cash, and thus contacted Mr. Kumar in order that he assist the police in locating the owner of the bag.
The police subsequently located the owner of the bag, who claimed to be employed by an FX company in Chennai. He also claimed that the money was to be handed over to his colleague.
The police asked the owner of the bag to submit proof for his justification and for his employment, and Superintendent of Police S.N. Siddaramappa explained to The Hindu that it is suspected that the money is part of a foreign currency racket.
“We have now written to the Directorate of Enforcement and have sought their help in investigating this case,” he said.