Hyderabad, Nov 7: Around 7.51 crore were seized an four persons arrested when a hawala money transfer racket was busted by the local police in Hyderabad on Wednesday.
Sleuths of Saifabad police along with city task force, Flying Squad and Static Surveillance team ( Model code of Conduct teams pertaining GE-2018) have conducted the joint operation at different locations in the city on illegal money transfer (Hawala racket) in the early hours, Hyderabad City police Commissioner Anjani Kumar said in a press conference here.
Acting on a tip-off, the police team busted the hawala racket being operated from other state and abroad through Hawala channels illegally for use in poll-bound Telangana, at Rotary Circle, NTR marg .
The accused were identified as Sunil Kumar Ahuja, Ashish Kumar Ahuja(23), Mohd Azam and Bhabut Singh Raj Purohit.
The seizure details are being intimated to the Enforcement Directorate and the Income Tax Department for further examination the trail of financial transactions and involvement of Shell companies, he said. (UNI)