TNN | Feb 7, 2008, 01.58AM IST
Source
BANGALORE: Who says 20 paise coins and old Re 1 coins are not in demand? 'Coin collectors' pay an additional 50 paise to pick up old Re 1 coins and 30 paise extra for 20 paisa coins. Where do the collected coins go? They come back to you in the form of shaving blades, jewellery and sometimes even as bullets and pellets for country-made pistols and small fire arms.
The organized coin conversion business is said to be thriving in Bangalore. The arrest of four in Tamil Nadu three days ago has proved this beyond doubt. Last week, the Tamil Nadu police arrested Jayaraj, (31), Ali alias Mohammed, (38), Sheikh alias Sheikh Mydeen, (36) and Sheikh Mohammed (34). They recovered a bag full of coins worth Rs 85,000, weighing 700 kg, from them.
Preliminary investigations have revealed that coins are supplied to one Manikantan in Bangalore. His telephone number has been traced. The Tamil Nadu police have now sought BSNL's assistance in Bangalore to trace Manikantan's address.
"We are not sure of the real motive behind this old coin consignment. The arrested were only suppliers. One of the accused has said nickel is extracted from old coins which will be used in shaving blades and making jewellery in Bangalore," Nagercoil superintendent of police Santosh Kumar, told TOI.
Source
BANGALORE: Who says 20 paise coins and old Re 1 coins are not in demand? 'Coin collectors' pay an additional 50 paise to pick up old Re 1 coins and 30 paise extra for 20 paisa coins. Where do the collected coins go? They come back to you in the form of shaving blades, jewellery and sometimes even as bullets and pellets for country-made pistols and small fire arms.
The organized coin conversion business is said to be thriving in Bangalore. The arrest of four in Tamil Nadu three days ago has proved this beyond doubt. Last week, the Tamil Nadu police arrested Jayaraj, (31), Ali alias Mohammed, (38), Sheikh alias Sheikh Mydeen, (36) and Sheikh Mohammed (34). They recovered a bag full of coins worth Rs 85,000, weighing 700 kg, from them.
Preliminary investigations have revealed that coins are supplied to one Manikantan in Bangalore. His telephone number has been traced. The Tamil Nadu police have now sought BSNL's assistance in Bangalore to trace Manikantan's address.
"We are not sure of the real motive behind this old coin consignment. The arrested were only suppliers. One of the accused has said nickel is extracted from old coins which will be used in shaving blades and making jewellery in Bangalore," Nagercoil superintendent of police Santosh Kumar, told TOI.
No comments:
Post a Comment