A hawala money transfer racket was busted and ₹ 70.63 lakh was seized by the Hyderabad Police Commissioner’s Task Force (central zone) team on Tuesday.
Based on a tip-off, the Task Force team conducted surveillance and apprehended the accused Katragadda Naresh (35), Kasim Mohammed Raza (44), and Hyder Raza (43) with the unaccounted money kept in two bags. The latter two are employees of AGS Security Services.
Upon enquiry, Naresh told police that his uncle Vijay Shaker wanted to transfer money to a person named Keerthi in Hyderabad. Naresh provided him with the bank account number of AGS Security Services. He is a friend of its owner Murthy.
After Vijay Shaker transferred the amount to the account number, the employees of AGS Security Services withdrew the amount from the bank and reached Sravana Nursing Home lines, Malakunta to hand over the money to Naresh. The Central Zone Task Force team apprehended the three accused with ₹ 70.63 lakh. The seized money and the accused were handed over to Begumbazar Police Station for further investigation.