Money laundering: Scrap dealer arrested with Rs 1.24 Cr unaccounted cash in Hyderabad
A spokesman of the Commissioner’s Task Force said Shoaib Malik came to Hyderabad, in February 2022 and started a scrap business under the name of `Bismillah Traders’ at Jalpally, Katedan.
By Newsmeter Network Published on 30 Sep 2022 5:56 AM GMT
Commissioner's Task Force, Central Zone, Hyderabad, apprehended a scrap dealer after they recovered Rs 1.24 crore unaccounted cash from his possession.
Identified as Shoaib Malik alias Shoaib, he was arrested from Shanthi Nagar, Masab Tank, Hyderabad.
A native of Meerut, UP, Shoaib Malik, 30, runs a scrap business at Jalpally, Katedan.
A spokesman of the Commissioner's Task Force said Shoaib Malik came to Hyderabad, in February 2022 and started a scrap business under the name of `Bismillah Traders' at Jalpally, Katedan.
During questioning, he revealed that one of his uncles Kamil Malik informed him to collect the Rs. 1.24 crore from Bharath of Gujarathi Galli, Hyderabad. He told the interrogators that he sent one of his employees Aaqlaq to collect the amount.
Further, he revealed that Kamil Malik instructed him to distribute the amount among four people identified as Sambhav, Adil, Minaj Saddam, and Shafi, all residents of Hyderabad.
When prodded about the cash, Shoaib Malik failed to produce proper account statements.
"Therefore he was apprehended. He and seized cash were handed over to SHO Humayun Nagar police station for further action," the spokesman said.
