Hawala racket busted, Rs 5 crore seized in Hyderabad

Representational image

Hyderabad: The city police has busted an alleged illegal money transfer racket and seized Rs 5 crore, according to an official release.

Acting on a tip-off, sleuths of the Commissioner’s Task Force, West Zone Team, on Monday night apprehended seven persons, all natives of Gujarat near Jubilee Hills Check post, here for carrying out he alleged illegal money transfer, it said.

A senior police official said the money will be handed over to the Income Tax Department for verification, and an investigation is underway.