Hyderabad police bust hawala racket, 31 lakhs seized

By Newsmeter Network  Published on  30 Oct 2020 9:49 AM GMT
Hyderabad police bust hawala racket, 31 lakhs seized

Hyderabad: The Hyderabad police busted an illegal hawala racket and arrested two persons on 30 October. The police seized over Rs. 31 lakh unaccounted cash.

Based on credible information, the inspector commissioner’s task force, north zone, along with the Sultan Bazar police busted the illegal racket near Kutbiguda in the limits of Sultan Bazar police station. Besides Rs. 31,26,100 cash, they also seized a Honda Activa. The two arrested persons have been identified as Manish Toshniwal (32) and his associate Vishnu Biradar (21).

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According to the police, Manish, who is from Rajasthan, ran the hawala business. He transported the hawala money from one place to another and delivered the money to needy customers for a commission. He had hired Vishnu and both were running the business and sharing the profits.

On 29 October, the duo was transporting huge amounts of unaccounted cash to a customer when they were apprehended. They were unable to provide satisfying answers regarding the cash and also failed to produce proper documents and supporting evidence regarding the amount.

The two along with the seized cash and vehicle were handed over to the SHO, Sultan Bazar, for further investigation.

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