Two arrested, Rs 4 cr hawala money seized in Hyderabad

Hyderabad, Dec 5 (PTI) Police here arrested two persons accused in an alleged hawala racket and recovered Rs 4.05 crore.

A police release said on Saturday that a city resident had lodged a complaint about a year ago that he, along with his two friends gave Rs 50 lakh to a person for a cash–RealTime Gross Settlement (RTGS) exchange deal wherein they were assured payment of Rs 60 lakh through RTGS.

Acting on credible information on December 4 regarding the movement of the main accused, Bowenpally police intercepted and apprehended him along with his associate in Mahabubnagar District while they were travelling in a car, it said.

During interrogation, the accused admitted to cheating the complainant of Rs 50 lakh in August, 2024 as part of the cash–RTGS fraud.

He further confessed to his involvement in transporting Rs 4.05 crore of hawala money from Nagpur to Bengaluru, the release added. PTI SJR SJR SA