Another Hawala Racket Busted in Hyderabad, Rs 1.27 Crore Seized

Hyderabad: Hyderabad Police have busted another Hawala racket by arresting three persons on Tuesday. Police team also seized Rs 1.27 crore cash from their possession. 

Acting on credible information, the Commissioner's Task Force, Central Zone team arrested persons who were identified as Manne Srinivas (53) of Amberpet, C Vishwanath Chetty (45) of MJ Market, both of them Hawala operators and K Phani Kumar Raju (42) of KPHB Colony (collection boy). 

The accused were transporting Hawala money on a two-wheeler, a Police statement said on Wednesday. The Police team apprehended collection boy Phani Kumar at Raymond Showroom, Liberty X roads, Himayath Nagar under the limits of Narayanguda police station when he was transporting net cash of Rs 1.27 crore on two-wheeler. 

During the preliminary probe, Phani Kumar confessed that he was working as a collection agent under Manne Srinivas. He collected the amount of Rs 70 lakhs from Manne Srinivas and remaining amount of Rs 57 lakhs from another person Vishwanath Chetty and proceeding to deliver the same to one unknown customer at Kavadiguda, police intervened and arrested him. Based on information of Phanai Kumar, the remaining two accused were arrested, the statement added.

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