SURAT — In a significant crackdown, the Surat PCB Police apprehended three individuals allegedly involved in illicit foreign exchange dealings. The trio reportedly sourced foreign currency at low rates from NRIs in Navsari and neighboring villages, only to sell it at inflated prices. The recovered currency, amounting to Rs 19.92 lakh, includes 36,000 Saudi Riyals, 2,500 Australian Dollars, 2 Lakh Thai Baht, 4,900 US Dollars, 205 UAE Dirhams, and 10,000 Malaysian Ringgit.
The arrest operation was conducted near Surat railway station on Thursday. Among the detainees is Nirav Shah, a known money changer operating in Mahidharpura, who allegedly masterminded this scheme to convert foreign currency notes, profiting from the marked-up rates. Another accused, Manoj, is employed at a Foreign Exchange office on Ghoddaud Road. He was identified as the source of the 10,000 Malaysian Ringgit and had plans to transfer the currency to an associate in Surat. The third individual, Suraj, is an employee at Nirav's establishment.
With the initial arrests made, the Enforcement Directorate (ED) is set to delve deeper into the case, exploring potential larger networks and broader implications.
