Rachakonda police dig deeper in US linked hawala racket
The Enforcement Directorate and Income Tax authorities have enquired about the case with the police and are likely to join the investigation.
Hyderabad: The Enforcement Directorate and Income Tax authorities are likely to join the investigation into the United States linked hawala racket unearthed by the Rachakonda police last week.
A businessman, Venkatrami Reddy had alleged that he was robbed of Rs. 50 lakh by unknown persons while he was carrying the amount which he claimed was proceeds of liquor business. The police however on questioning found the amount was actually part of hawala money.
On Monday the police searched the house of Venkatrami Reddy and found huge amount of cash in the premises. A businessman Praveen Reddy who is staying in the US and another person, Farooq from Riyasatnagar of the old city are also allegedly involved in the illegal business.
Enquiries by the police found that so far Venkatrami Reddy had dealt with cash of Rs. 28 crore along with Farooq, who is absconding. Senior officials of the Rachakonda police are supervising the investigation.
It is learnt the Enforcement Directorate and Income Tax authorities have enquired about the case with the police and are likely to join the investigation.
The police had seized the mobile phone of Venkatrami Reddy and analysing the content in the mobile phone and his call data record to identify the persons who are connected to the hawala racket.
