Hawala money transfer racket busted; 8 held

Hawala money transfer racket busted; 8 held
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Hawala money transfer racket busted; 8 held
Highlights

he North Zone Task Force sleuths on Wednesday conducted simultaneous raids in the limits of Hyderabad and busted illegal hawala money transfer rackets near Goshamahal and Ramgopalpet.

Hyderabad: The North Zone Task Force sleuths on Wednesday conducted simultaneous raids in the limits of Hyderabad and busted illegal hawala money transfer rackets near Goshamahal and Ramgopalpet.

The police arrested eight accused. They arrested were identified as Abhishek Rathi, Kamal Sharma, Subhash Sharma, Shyam Sundar, Mahesh Kumar Pande, V Srisailam, Shravan Singh Rajput and T Venkateswar Rao.

The police seized hawala money Rs 41 lakh, three bikes and 10 cell phones from the possession of the accused. The accused used to collect and transport hawala amount to needy customers on commission basis at 0.8 to 10 per cent under the guise of conducting business.

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