The Central Crime Branch (CCB) officials on Thursday raided Savitha Creations in Mamulpet in City market and arrested three persons for operating hawala racket.
The accused Mukesh (38), Manjunath (30) and Pratap (27) have been collecting money from businessmen and transferring funds to various places including Rajasthan, Gujarat, Mumbai and Kolkata through Hawala.
The accused charged Rs. 300 per lakh and have been running the racket for several years, the police said.
The police have recovered unaccounted cash Rs. 26,100 from the accused and seized four mobile phones, cash counting machine and documents mentioning the names of the clients and their contacts in several states across the country.
