The West Zone Task Force busted an illegal money transfer operation, apprehended four persons and seized over ₹2.5 crore cash from them.
Police identified the accused as jeweller Patel Jayesh (43), his associate Vanraj (29), and two farmers, Patel Ashwin (48) and Naveen (40). Cops intercepted a vehicle, in which Vanraj and Ashwin were travelling, in Ramkoti near Aditya Hospital and seized ₹1.8 crore from their possession.
When questioned, the duo could not provide a proper account of the cash they were carrying.
Later, they said the cash belongs to Jayesh and informed police of his whereabouts. Based on that, police raided an apartment in Ramkote and found Jayesh and Naveen.
Apart from cash, the cops also confiscated a cash counting machine.
In due course of investigation, police found out that Jayesh arrived in the city in 2010 and started a jewellery business.
Phone-y operations
The accused confessed to have been running illegal money transfer business charging an interest of 0.6% and conducting operations over phone.