Bengaluru, April 15: The Police has arrested a person and recovered a huge amount of demonetised notes from the residence of a former Corporator at Malleswaram on Friday.
The accused has been identified as V Nagraj. The recovered cash amounts to about Rs 40 crore.
The residence of accused Nagraj was raided after the police received a tip-off regarding the presence of cash.Based on the information the police reached his residence on Shri Rampura road on Friday morning.
Sources from the police said that the accused was involved in a kidnapping case in the past.
The police are checked and counting the notes recovered from Nagraj's residence. Sources from the police said that Nagraj is a rowdy sheeter.He has done many crimes like an exchange of old currency notes, robberies, murders and kidnaps etc.
He also participated the elections against KPCC working president M Dinesh Gundurao in 2004 and lost by 400 votes.
According to reports, Nagaraj has escaped from the surroundings, who have many links with several famous politicians, police suspected.