Two arrested by Hyderabad Police for transporting Rs 10 lakh hawala money
On the day of the arrest, Manprith Singh and Shaik Arshad were collecting huge amounts from customers and transporting them in their scooter when they were apprehended by the police.
- City News
NewsTAP Bureau- Updated On:26 Oct 2023 1:40 PM GMT
HYDERABAD: Sleuths of the Commissioner's Task Force, Central Zone Team, have busted a hawala racket in Hyderabad and arrested two persons. The accused, Manprith Singh and Shaik Arshad, were found carrying Rs 10 lakh in cash when they were stopped for checking near Chirag Ali lane in the limits of Abids police station.
On questioning, the accused failed to provide a satisfactory explanation for the source of money. They also did not have any valid documents to show that the money was legally acquired. The police have seized the money, a Suzuki Burgman scooter, and two cell phones from the accused.
Investigations revealed that Manprith Singh was running a scrap business in Amberpet. He came into contact with hawala money transfer agents and started organising illegal hawala money transfer business clandestinely. He used to supply money to hawala brokers, particularly in metropolitan cities, and communicated with them through messages and WhatsApp. He used to maintain a code of identification for each client and used to deliver the hawala money to them in order to evade tax to the Income Tax department and got commission for transporting hawala money.
On the day of the arrest, Manprith Singh and Shaik Arshad were collecting huge amounts from customers and transporting them in their scooter when they were apprehended by the police.
The apprehended respondents along with the seized material have been handed over to the Abids police for further investigation. A case was registered under section 102 of the CRPC Act.
