Hawala racket busted, three Gujaratis held

Hyderabad: West Zone Task Force sleuths on Tuesday busted illegal money transfer racket and arrested three persons in this connection.

They seized net cash of Rs 48 lakh from the possession of them. According to Task Force sleuths, they arrested accused Vipul Kumar Patel (38), Upendra Kumar Patel (55) and Patel Chetan Kumar (39) from Gujarat and staying in Banjara Hills.

During investigation it was revealed that the accused persons were running the business of illegal money transfer.

They would supplycash to their customers and charged 0.6 per cent of the amount through their company P Umesh Chandra & Company at Ahmedabad, Surat and Mumbai.