A CBI raid followed by arrests of three postal staff has spilled the beans. The investigation revealed how post offices of Hyderabad became the illegal exchange points of demonetised currency. Sleuths of Central Bureau of Instigation on November 24 conducted surprise checks at eight post offices in Hyderabad on the suspicion of malpractices to short circuit demonetisation move. The CBI found that three postal department officials fraudulently exchanging invalid currencies worth Rs 36 lakh with the newly introduced Rs 2000 notes. The CBI booked postal service officer K Sudheer Babu, Himayatnagar sub-postmaster G Revathi and G Ravi Teja, who is the office assistant of the senior superintendent office for the wrongdoing, which took place on November 12. The incident came to light only after the CBI raided the post offices on November 24. Now, the investigation has revealed that the staff took 20 per cent commission for exchanging the demonetised Rs 500 and Rs 1000 currency notes with new Rs 2000 notes. The CBI suspects that there are more postal department officials involved in the huge scam of currency exchange. The period between November 10 and November 15 is under scrutiny. The officials involved with investigation say that the currency exchange racket could have bigger than they initially thought. “There are over 70 post offices located in the city. It will take time to verify their documents as most of them are still using the traditional ledger instead of computerised entries. One can easily manipulate the entries at treasury level,” one of investigative officers said. The agency suspects that the fraudulent exchange is not limited to only Rs 36 lakh. The actual amount of scam could be into crores of rupees as they are still scanning several other transactions made at different post offices. According to CBI sources, the principal beneficiaries of this fraudulent money exchange racket are suspected to be the businessmen of the city. The CBI is likely to make more arrests in this connection in the coming days.