How Nagole man’s loss to fraud led to seizure of Rs 4.05 crore in hawala cash en route to Bengaluru

Hyderabad: In a major crackdown on illegal money movement, Hyderabad police on Friday seized Rs 4.05 crore in hawala cash being transported from Nagpur to Bengaluru and arrested a Gujarat-based businessman in connection with the operation.

The seizure followed the detection of a cash–RTGS exchange fraud in which a Nagole resident was cheated of Rs 50 lakh.

Cash–RTGS fraud uncovered

The case came to light after V Vishwanath Chary of Nagole lodged a complaint with the Bowenpally police stating that he and his associates, Pradeep and Ravi, had handed over Rs 50 lakh in cash to Mohammad Subhan Pasha for an assured RTGS transfer of Rs 60 lakh.

However, after receiving the cash, the accused neither transferred the money nor returned the amount, prompting the victims to approach the police.

Accused traced to Mahabubnagar

Based on technical inputs and surveillance, a special police team intercepted a car within the limits of the Addakal police station in Mahabubnagar district and arrested Prakash Prajapathi of Gujarat along with his associate.

During interrogation, Prajapathi confessed to cheating the complainants in August 2024 as part of the cash–RTGS fraud, police said.

Hawala transport from Nagpur to Bengaluru

Police also recovered Rs 4.05 crore in unaccounted cash from the vehicle. The accused admitted to transporting the money as part of a hawala network moving funds from Nagpur to Bengaluru, according to North Zone Deputy Commissioner of Police S Rashmi Perumal.

Investigators believe the seized amount is part of a wider interstate illegal money movement racket.