Visakhapatnam: Seven employees of a company, which loads cash in 128 ATMs of several banks here, were on Thursday arrested for allegedly pilfering about Rs74 lakh in Rs100 and Rs2,000 denominations for converting black money into white at a commission.

Police also arrested three other persons and managed to recover Rs35 lakh from the gang, that had syphoned off about Rs1 crore in the past two years by short-filling the ATMs and manipulating the machines, according to probe. The racket came to light when the Railway Protection Force (RPF) caught one of the accused, Dasari Srinivas, after finding his demeanour suspicious and seized Rs15 lakh in the new Rs2,000 denomination at Samalkot in East Godavari on Tuesday. His questioning led to discovery of the racket, police said.

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DCP Navin Gulati said after the demonetisation, when demand for Rs100 and the newly introduced Rs2,000 notes increased, they pilfered Rs74 lakh in Rs100 and Rs2,000, meant for loading in ATMs. About Rs39 lakh of this amount was swapped for the defunct Rs500 and Rs1,000 notes at 25% commission.

Those arrested were identified as D. Srinivas, B. Rambabu, P. V. Dora, RGV Gowtham, L. Manoj Kumar, P. Nookayyasetty and K. Deepak Kumar, all employees of Scientific Security Management Services, which loads cash in 128 ATMs of SBI, HDFC and few other banks here. The three others arrested are S. Mahesh Babu, B. Satish Kumar and V. Kesava, who allegedly scouted for customers in need of Rs100 and Rs2,000 notes to convert the black money hoarded in defunct notes, police said.

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