The Hyderabad Police dismantled a Hawala racket, seizing cash worth Rs. 1.27 crore and arresting three people in connection. The event took place inside the boundaries of the Narayanguda police station. Authorities also seized a two-wheeler that was used in the crime.
The three individuals that were detained are all from Hyderabad. They were identified as Manne Srinivas (age 53), Vishwanath Chetty (age 45), and K Phani Kumar Raju (42).
Sub-inspector Sai Kiran and his team from the Commissioner’s Taskforce’s Central Zone team made the arrest based on reliable and secret information. The team apprehended the driver of a white Honda Activa after stopping it in front of the Raymond Showroom on Liberty X Roads in Himayath Nagar. He identified himself as K. Phani Kumar Raju when questioned. Upon inspecting the car, authorities discovered Rs 1.27 crore in undeclared cash.
He admitted under questioning that he had acted as a collection agent for Manne Srinivas, another arrested suspect, and had obtained Rs 70 lakh from him and the remaining Rs 57 lakh from another man, C Vishwanath Chetty.