The Income Tax Department on Wednesday busted a cricket betting and hawala racket in Delhi and seized ₹1.09 crore in cash and high-end watches worth ₹50 lakh, officers said.
The investigation wing of the department here raided premises in Punjabi Bagh over the week and also detected alleged illegal foreign assets of the accused in Dubai, London and the British Virgin Islands.
While the department did not identify the accused, it said it has provisionally attached two houses in Punjabi Bagh and a farmhouse in Bijwasan, worth ₹30 crore, as part of the probe.
Officials in the department said the accused are also “involved” in the business of illegal settlement of disputed properties even as the taxman recovered four luxury cars and 180 bottles of foreign liquor after the searches. Also, ₹1.09 crore in cash, including ₹14 lakh in foreign currency, jewellery worth ₹1.8 crore and branded watches worth ₹50 lakh have been seized, they said.
