Hawala money racket busted, Rs 3 crore cash, 1.8 kg gold seized


Hyderabad: West and north zone Task Force teams launched immediate searches and busted an illegal hawala racket. The searches were carried on some locations at Road No. 36 of Jubilee Hills, Liberty of Saifabad, YMCA Clock Tower in Secunderabad and Ranugunj.

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Officials held 8 persons and recovered net cash of Rs 3,13,44,000, 1,800 gms of gold biscuits valued at Rs 60 lakh and 11 cell phones from their possession.

Also read-Gold worth Rs 50 to Rs 60 lakh stolen from a train passenger

In the first search, the officials arrested A. Prakash,(38), S.V. Krishnam Raju, (38), and R. Kiran Goud, (38), collected around `2.12 crore from T. Raja Ramesh, owner of Haridwar Infrastructure, in Road No. 10, Banjara Hills.

They decide to transport the cash in 2 four-wheelers to Sangareddy in order to distribute among the supporters allegedly in favour of Turupu Jayaprakash Reddy alias Jaggareddy, the  Congress candidate. The raid was carried out at Road No. 36, Jubilee Hills.

In the second incident, K Ganesh Goud collected `45 lakh cash from one Sumith Agarwal at Saifabad, as per the orders of his employer was detained. He was to have passed the money to one Dass Robert. The officials held Goud and seized the cash from him.

In another incident, officials arrested two persons known as Sanjay Kumar Jha and D. Yadagiri were trying to transport `50 lakh and 1,800 gms of gold biscuits to one Mahender Agarwal from Mayur Ram Gulabani of Legend Pearls at Pathargatti, Charminar. Police said Gulabani used to transport money to needy clients on the commission of up to 10%  under the appearance of pearls business.

The north zone team launching a raid at Trison Impex, Ispat Bhavan, Ranigunj, and seized 6.53 lakh that was to be allegedly transported as hawala to a client and held one Naresh Angara.

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