Illegal money transfer racket busted in Hyderabad, Rs 90 lakh seized

Around ₹90 lakh seized and four persons arrested when a hawala money transfer racket was busted by the Commissioner’s Task Force East Zone team here on Tuesday.

Hyderabad: Hyderabad Task Force busted an illegal money transfer racket and seized more than ₹90 lakh from the possession of four people here on Tuesday.

Four people- Devash Kothari, Bhakti Prajapati, Khan Bilal and Vishal Jain-were arrested in connection with this. Three counting machines, 4 motorcycles and other incriminating materials have also been confiscated from their possession.

"On Tuesday morning, our team raided four places in Hyderabad, arresting four in connection with the possession of a huge amount of money. We are under the Model Code of Conduct (MCC) after the Election Commission announced the poll dates two days back.With MCC in force, our team has become extra vigilant of the flow of the unaccounted cash." said Anjani Kumar, Commissioner of police, while addressing the media.

"They were carrying cash in a secret jacket that can easily carry up to Rs 1 crore. They were taken into custody after they failed to show the documents to prove the possession," he added.

Four people arrested in connection with this belong to Gujarat, Uttar Pradesh, and Hyderabad.
The amount, after carrying out the due process of law, will be handed over to the Income Tax (IT) department to ascertain the trail of cash flow.

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