Udupi: The District Crime Intelligence Bureau (DCIB) police have arrested Imran(24) from Mangaluru for exchanging antiquated Brazilian currency with Indian currency, on May 25.
Police said that, Imran was exchanging “Banco Central Do Brasil”, Brazilian currency, which was stopped circulating in the year 1889. He fooled people saying that the currency is in circulation and 1 Brazilian currency equals to around 20 Indian Rupees.
Police has taken custody of all the currencies from him. He was caught while trying to exchange 574 notes of 500 denomination and 92 notes of 100 denomination, total 2,96,200 cruzado equal to worth Rs 59.24 lakh.
On May 25, on getting a tip off, as per the direction of Udupi SP Annamalai, Additional SP Santosh Kumar, DySP Udupi Chandrashekar, DCIB Inspector TR Jaishanker and his team raided the spot and arrested Imran.
A case has been registerd in Udupi Town police station for further investigation.
