Siliguri, 27th April: A businessman from Matigara has been arrested by the Directorate of Revenue Intelligence (DRI) for possessing a large amount of unaccounted foreign and Indian currency.
The arrested individual has been identified as Shyam Babu Prasad, a resident of Tumba jote, Matigara. Prasad has reportedly been engaged in the currency exchange business for a long time and holds a valid license for the same. However, he is now facing allegations of holding a significant amount of unaccounted money.
On Saturday morning, DRI officials conducted simultaneous raids at Prasad’s residence in Matigara and his two offices in Siliguri. During the searches, authorities recovered approximately Rs 1.14 crore in Indian and foreign currency. Around Rs 22 lakh in unaccounted cash was found at his residence, while Rs 51 lakh was seized from one of his offices.
The recovered foreign currencies include those from Malaysia, Canada, Hong Kong, Australia, the United Kingdom, Bangladesh, Saudi Arabia, and France.
Following his arrest, Shyam Babu Prasad was produced before the Siliguri court on Sunday.