Income Tax officials on Thursday said they have post-demonetisation uncovered several cases of fraud, including unearthing of a syndicate was exchanging old currency notes for 35 per cent commission and seizure of cartons packed with Rs 100 notes.
They also found a case in Nagpur where a large sum of money was deposited in a bank account without the knowledge of the account holder and seven accounts were being fraudulently operated by unknown persons to launder Rs 4.25 crore.
Central Board of Direct Taxes said some investigations at Mumbai found that a syndicate of ground level operators was converting banned currency notes into legal tenders for a commission.
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