Andhra Pradesh

34,000 USD, ₹1.47 crore cash seized in hawala racket

Police Commissioner B. Srinivasulu showing the seized cash at a press conference in Vijayawada on Tuesday.  

Sleuths of the Commissioner’s Task Force (CTF) busted a hawala racket, allegedly being operated from Narsapuram in West Godavari district to Hyderabad.

The CTF arrested four persons and seized ₹1.47 crore in cash, and 34,000 USD, and a car from the accused. The arrested persons were identified as Chamakuri Ananda Rao and his brother Ch. Hari Babu. Police are also interrogating two persons named Valluri Shivanath and Praveen Kumar Jain, natives of Narsapuram, over their alleged involvement in the case.

Disclosing this to reporters here on Tuesday, Police Commissioner B. Srinivasulu said that the CTF team led by Additional Deputy Commissioner of Police (ADCP) K.V. Srinivas Rao, along with his team intercepted a car at Gollapudi, under Bhavanipuram police station limits.

Assistant Commissioner’s of Police (ACPs) V.S.N. Varma and T. Kanaka Raju checked the vehicle and found the cash and the American dollars concealed in a box. The suspects were unable to show any bills for the seized cash and the dollars, Mr. Srinivasulu said.

During investigation, it was revealed that Ananda Rao and Hari Babu were working at Devi Jewellers Mart, Narsapuram, owned by Praveen Kumar Jain, who is suspected to have arranged the cash and dollars.

Praveen Kumar allegedly asked the siblings to hand over the cash to his brother Keerthi Jain, who is running a jewellery business in Hyderabad.

“We alerted the Enforcement Directorate and Income Tax personnel regarding the hawala racket,” Mr. Srinivasulu said.

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Printable version | Oct 26, 2020 11:18:14 PM | https://www.thehindu.com/news/national/andhra-pradesh/34000-usd-147-crore-cash-seized-in-hawala-racket/article32556019.ece

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