The Central Crime Branch (CCB) sleuths raided a readymade garment shop in Chickpet and arrested four for running an inter-state hawala racket.
Based on a tip-off a team of officials raided M.M. Garments in Mamulpet and arrested Mangilal Jain (53), Ramesh Kumat (49), Rana Ram (35) and Babula Sutar (38) and recovered unaccounted cash amounting to Rs. 17,60,800.
The police have also recovered 3.160 kgs Silver, which the accused confessed to have received from their customer.
Preliminary investigations revealed that the accused are a part of the inter-state hawala racket, in which they sent and received cash from their customers and send it to other states like Mumbai, Rajasthan, Gujarat and Kolkata. After receiving cash, they would inform their counterparts to deliver the cash to the destinations.
“This is to avoid tax from the bank and would also help to convert black money,” a senior police officer said.
