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Hawala racket busted in Hyderabad

Mon 22 Oct 2018, 11:40:59
Hyderabad:The West Zone Task Force apprehended four men from a flat in Ramkoti for carrying out illegal money transfers (hawala) racket and seized Rs 2.54 crore from them. 

The arrested were identified as Patel Jayesh alias Athul, 43, Vanraj, 29, Patel Ashwin, 48, and Naveen, 40, police said. 

On Sunday, based on credible information, the Task Force intercepted Vanraj, Patel and Ashwin near Aditya Hospital, Ramkoti while they were travelling on a scooter with Rs 1.80 crore cash, said the DCP, Commissioner’s Task Force, P. Radhakrishna Rao. 

“Upon enquiry, they did not reveal the reason for carrying the cash and stated that it was their employer, Jayesh’s cash. They also informed that he stays at a flat in Marvel Meadows Apartments in Tilak Road in Ramkoti. Based on the information, a raid was conducted at Jayesh’s residence and the other two were apprehended. Cash amounting to Rs 74 lakh and one cash counting machine was also seized from them,” said the official. 

It was revealed during enquiry that Jayesh, a native of Gujrat, came to Hyderabad in 2010 and started diamond and jewelry business by residing at the said place. He is also running the business of illegal money transfer, by supplying cash without any accounts to the needy customers with the interest of 0.6 percent by taking orders over his phone through his agents in Mumbai and is running the hawala business by taking the said flat for rent of Rs 17,000 per month. 

“On Sunday, Jayesh informed Vanraj and Ashwin to deliver Rs.1.80 Crore to the needy persons at Ramkoti when they were apprehended by the Task Force team and the total Rs 2.54 Crore was seized from them. Further investigations are on” concluded the DCP. 





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