Four held for alleged ‘hawala trade’ in Hyderabad

By Author  |  Published: 13th Jun 2019  1:20 am

Hyderabad: Four persons who are suspected to be involved in ‘hawala trade’ were caught by the Commissioner’s Task Force (central) team and Rs 1.01 crores cash and two motorcycles was seized from them.

Acting on a tip off, the sleuths caught Jitendar Nath (28), a fruit commission agent from Gyanbagh colony and native of Rajasthan, Suresh Sharma (29), a carpenter from Begum Bazaar, Gepalam Lakshmi Narayana Hema Sundaram alias GL Hema Sundaram (34), of Secunderabad and a native of Kadapa, Andhra Pradesh, and Bandi Bala Krishna, accounts assistant of Jubilee Hills and native of West Godavari in AP.

According to DCP Task Force, P Radha Kishan Rao, the prime suspect, Jitendar Nath set up a hawala transfer business in Begumbazar, Gyanbagh Colony, Gujarati Galli and Koti, Hyderabad with the help of his friend Suresh Sharma. The duo were supplying money on commission basis at the rate of 0.6 per cent to 0.8 per cent to businessmen.

On information, the Task Force (central) kept surveillance over their movements and identified the group and caught them near RTO office Khairatabad, Somajiguda, on Wednesday.

“We found the cash stuffed in two luggage bags. Jitender Nath confessed that he was going to deliver the amount to the accountants of CR associates at Potladurthy, Kadapa. While the money was being exchanged they were caught,” said the DCP. The cash was handed over to the Income Tax authorities for further investigation