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Hawala money racket busted: 3 held, over Rs 70 lakh seized
Telangana

Hawala money racket busted: 3 held, over Rs 70 lakh seized

Agency News

Hyderabad, Apr 10: The city police have busted a Hawala money racket by arresting three people. Police seized Rs 70.63 lakhs cash, two two-wheelers and three mobiles from their possession. On credible information, Central Zone Task Force team arrested Katragadda Naresh (35) of Kukatpally, Kasim Mohammed Raza (44) of Habsiguda and Hyder Raza (43) of Yakuthpura at Baba Tent House, Malakunta on Tuesday when they were in possession of huge unaccounted money of Indian currency which was kept in two bags and about to handover the amount to Naresh, police said.

On enquiry the accused Naresh disclosed that the AGS Security Services owner Murthy is a good friend of him. On request of his uncle by name Vijay Shanker who wanted to deliver amount to one person by name Keerthi at Hyderabad and wanted to transfer the amount. For which Naresh provided the AGS security services account number and asked him to transfer the amount to that account. As such Vijay Shanker transferred the amount to the AGS security services account.

The AGS security services Employees-- Mohd Raza and Hyder Raza-- withdrawn the amount from the firm bank account and came to Sravana Nursing home lines, Malakunta on two wheelers to hand over the amount to Naresh. When the amount was being handed over to Naresh, police intervened and apprehended them. The accused along with seized material were handed over to Begumbazar Police Station, for further investigation, police added. (UNI)