Hawala Racket Busted: Duo Apprehended with Rs. 10 Lakhs Cash
Hyderabad, Nov 17 (Maxim News): The sleuths of Commissioner’s Task Force, Central Zone Team on credible information laid a trap near Goshamahal Ground, Towards MJ Market Road in the limits of Shahinayathgunj PS intercepted One Jupitar Vehicle on checking found unaccountable cash of about Rs. Ten Lakh in a bag, two mobile phones, when enquired about the cash they failed to produce relevant documents pertaining to the amount and apprehended two respondents, V. Chandrashekar @ Vinay, Age: 34 years, and Prabhakar, Age: 42 Yrs, both resident of Uppal,
According to Nitika Pant, Deputy Commissioner of Police, the respondent V. Chandrashekar is residing in the limits of IDA, Uppal, and managing partner in Sheper Paper Pvt. Ltd, IDA, Uppal, Medchal-Malkajgiri Dist, Telangana State. Prabhakar is a private employee the Sheper Paper Pvt. Ltd.
During the course of time, they have had contact with Hawala Money Transfer Agents and organized illegal Hawala money transfer businesses clandestinely on a commission basis to earn easy money illegally and to evade tax to the Income Tax Department.
As per their plan on 16-11-2023 in the night hours, they collected Ten lakh from a businessman in the limits of Begum Bazar in order to deliver the amount to customers in the limits of Shahinayathgunj while traveling on Jupiter vehicle with the amount meanwhile intercepted the vehicle and apprehended them. The respondents did not disclose the Cash Bills pertaining to the amount and source of the amount. Seized Unaccountable Hawala amount Rs.10,00,000/- along with Jupiter vehicle, two mobile phones from their possession.
The apprehended respondents along with seized material were handed over to SHO, Shahinayathgunj PS for further investigation. (Maxim News)
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