Cash crime: Fraudsters pose as Income Tax officers, decamp with Rs 1 crore

Bengaluru, Nov 26: Cashing in on the Prime Minister Narendra Modi's so called crusade against common man'sblack money', three fraudsters posed as Income Tax officers and made off with a bag containing Rs 1 crore being brought to Bengaluru to purchase raw materials, saying the money needed to be investigated.

The incident happened on Tuesday, a day before the driver of a van ferrying Rs 1.37 crore between banks in the city, fled with the cash. However, the case was registered much later as the victims initially believed that those who took away cash were genuine officers.

Around 4am Tuesday, a van belonging to a private firm in Tiruchirappalli was heading to Bengaluru to purchase materials from ITC when it was stopped by three men in a car at Talghattapura, south of the city.

"It was routine purchases for the food processing company. They would come in a truck with cash, buy biscuits and some raw materials used for their business and return by the same vehicle," said an investigator from Talghattapura police station.

The three men in the truck, including a company supervisor, were asked to get off and were questioned by the three car-borne men, who kept referring to themselves as IT officials. These men then took the bag containing Rs 1 crore from the truck.

"They told the company employees that the money was under investigation by the IT department and they would have to go to the local police station to collect it. They kept the money in their car and asked the men to follow them to the police station," the officer added.

By the time the private firm employee employees got into the truck, the fake IT officers sped away with the money. Police said the employees didn't know whether the bag carried demonetized notes or new currency. They said they are awaiting the company's management representatives to come and give a statement on these details.

Investigators suspect an inside job, as the three men who robbed the truck had specific knowledge about the truck's route and its mission. "The elaborate act of pretending to be IT officers suggests it was well-planned heist," they added.

Two big heists in Bengaluru this week indicate that criminals are updating themselves with vulnerable targets and striking at them after demonetization, police said.