Hyderabad police busted an illegal hawala racket and recovered over Rs 16.69 lakh unaccounted cash on Friday.

Police arrested three persons and recovered Rs. 16,69,700 unaccounted cash from them.

Based on credible information, the Hyderabad Police Task Force, North Zone, along with Mahankali police intercepted a Honda Activa near City Light Hotel, Secunderabad,

During the search, they recovered huge unaccounted cash. Police arrested two Hawala operators and a receiver. The trio was identified as Nayi Lalitkumar Chunilal, 53, Ashok Singh, 36, and Nareddy Laxmikanth Reddy, 41.

According to the police, Nayi Lalitkumar Chunilal, who is from Gujarat, migrated to Hyderabad six years ago to carry out hawala business with Ashok. Both are residing in the limits of Begum Bazar. Their area of operation includes Hyderabad and neighboring states.

The modus operandi includes transporting the Hawala money from one place to another on a 5 percent commission.

During questioning, they were not able to give a satisfactory answer about cash or produce proper documents. The trio was handed over to SHO of Mahankali Police Station for further investigation.

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