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Vanasathalipuram robbery case turns out to be illegal hawala transaction case
Representational image
- The police grew suspicious after the victim revised the looted claim amount from Rs 2 crore to Rs 50 lakh
- On interrogation after seizing huge amount of unaccounted cash, the businessman spill the beans
Hyderabad: The robbery case in Vanasthalipuram took twist on Monday after the police found out the amount is linked to Hawala transaction. It is to mention here that a identified as businessman Venkatrami Reddy claimed that he was robbed of Rs
2 crore from him and later revised the amount to Rs 50 lakh. The police grew suspicious over the inconsistent claims and started questioning him.
On Monday, the police also searched the house of Venkatrami Reddy and uncovered a huge stash of unaccounted cash in the premises.
The businessman could not give satisfactory reply for storing such a huge amount of cash and on further grilling reportedly admitted that he was involved in hawala transactions, which were being carried out under the garb of a bar and restaurant.
Apart from Venkatrami Reddy, a UB-based businessman and another individual from Riyasathnagar were also involved in the illegal hawala business, police said.
With the help of WhatsApp chats and some records of previous financial transactions in a diary, the investigators are further probing the case to figure out the magnitude of the illegal hawala business.
L B Nagar DCP, Sunpreet Singh is supervising the investigation and two teams are working on the case. The person from old city, who is linked to the illegal business, is absconding.
