The Central Crime Branch police arrested three persons from Kerala for allegedly transporting unaccounted for cash of ₹4.12 crore concealed under onion and potato sacks in a goods van on Monday.
City Police Commissioner Praveen Sood said 70% of the seized cash was in ₹2,000 denomination, 5% in ₹100 denomination and the remaining were new ₹500 notes.
“The money was being transported from Mumbai to a city in Kerala through Bengaluru. We suspect it was part of a hawala racket,” said a senior police officer.
Based on a tip-off, a team of policemen intercepted the goods vehicle on airport road and arrested Mohammed Afzal (23), a resident of Vidyaranyapura and native of Kozhikode, and Abdul Nazeer (44) and Shamshuddin (39), both from Kozhikode district.
Investigations were on to ascertain the source of the money, Mr. Sood said.
