HYDERABAD: In yet another major hawala bust, the Hyderabad police on Sunday seized Rs 2.5 crore in cash and nabbed four persons hailing from Gujarat who were transporting the unaccounted cash.
The arrested are Patel Jayesh (43), a diamond and jewel businessman and resident of Abids; Vanraj (29), Patel Ashwin (48) and Naveen. The cash was found in the denominations of 100, 200, 500 and 2000 rupees.
"Acting on a tip-off, West Zone Task Force sleuths intercepted Vanraj and Patel Ashwin at Aditya Hospital in Ramkote area while they were riding a Honda Activa and carrying a net cash of Rs 1.80 crore. Police detained the duo and seized the unaccounted cash. When questioned, they told the police that the cash belonged to one Patel Jayesh, their employer. Jayesh is a resident of Marvel Meadows Apartments on Tilak Road in Ramkoti. Armed with the information, police teams raided the residence of Jayesh and arrested him along with his friend Naveen. During proper searches, police found Rs 74 lakh in cash that was possessed by them,’’ said DCP (Task Force) P Radha Kishan Rao.
“Patel Jayesh is a native of Palasar village in Patan district of Gujarat. He came here in 2010 and launched diamond and jewellery business and resided at Ramkoti. He is also running the business of illegal money transfer such as supplying cash without any accounts to the customers at an interest rate of 0.6 per cent by taking orders over his mobile number through his agents in Mumbai. He has been running the hawala business,” Radha Kishan Rao said.
On Sunday Patel Jayesh asked Vanraj and Patel Ashwin to deliver the cash of Rs. 1.80 crore to some persons at Ramkote. Police, who received the information, lay in wait and intercepted the two-wheeler on which the accused were carrying huge cash without valid documents.