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Police bust hawala money racket, apprehend four

Police bust hawala money racket, apprehend four
Highlights

Central Zone Task force team busted an illegal Hawala money transfer racket in Gujarati Galli, Koti on Wednesday The accused were identified as Lal...

Hyderabad: Central Zone Task force team busted an illegal Hawala money transfer racket in Gujarati Galli, Koti on Wednesday. The accused were identified as Lal Chand Pandia (36), Bajrang Lal Pareek (31), Dalip Kumar (33) and Kodati Thirupathi Rao (41) and seized an amount of Rs 72.73 lakh. The team also seized one currency counting machine and Ten-rupee note vide serial number 45G080304 from the possession of the accused. According to police, One Lal Chand Pandia who is a native of Rajasthan, migrated to Hyderabad and residing at Esamiya Bazar along with his family members.

During the course of time, he came across several Hawala Money Transfer Agents in India and developed contacts with Shyam Lal of Delhi. As he found the illegal business of Hawala much profitable, he established a Hawala Money Transfer business from Esamiya Bazar, Gujarati Galli with the help of his relatives Bajrang Lal Pareek and Dalip Kumar. Since then, he had been organising illegal Hawala money transfer business clandestinely and supplying money on commission basis at the rate of 0.6% per cent to 0.8% per cent to the needy.

The prime accused Lal Chand Pandia developed contacts with other illegal Hawala Brokers, particularly in Metropolitan Cities and used to communicate with others through messages and WhatsApp over phone by maintaining a code of identification with unique currency serial number on One Rupee note, Ten Rupee note.
On reliable information the Central zone Task force team kept surveillance over their movements and identified the Hawala money collection agents and raided Tannu Shree Electronics, Krishnadas market, Gujrati School lane near Nithin Elecronics, bank Street, Koti and seized two bags containing cash of Rs 72.73 lakh unaccounted money of Indian currency from their possession.

On enquiry, Lal Chand Pandia confessed that he is going to deliver the said amount to Kodati Thirupathi Rao by the instructions of Shyam Lal of Delhi. The accused Lal Chand Pandia used to collect the Hawala money from various persons with the help of Bajrang Lal Pareek, Dalip Kumar and send the Hawala amount to Delhi and other places and doing their illegal business of money transferring. The apprehended four accused along with seized material were handed over to Income Tax Department, for further investigation.

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