In a continuous attempt to prevent illegal financial activity, Hyderabad police recently seized a cash transaction linked to hawala operations. The operation, which took place near the TV9 office, resulted in the finding of Rs 3.5 crore in cash. This large amount of unlawful cash has triggered further inquiry into the potential illegal financial network.
Ch. Hanumantha Reddy, Sriramulu Reddy, and Uday Kumar Reddy have been named as those apprehended in this operation. Their purported involvement in this operation was to collect and distribute hawala funds while catering to their customers’ special needs. An in-depth inquiry found that they would demand a fee of Rs. 25,000 for every 1 crore in hawala transactions.
On October 10, 2023, the police, headed by Prabhakar, captured Hanumantha Reddy and several others as they were collecting hawala sums from several sites, including Begumbazar, Nampally, Goshamahal, and Jubilee Hills, based on valid intelligence. The individuals were transferring the collected hawala monies to their office, which was located at Sai Krupa Building, Aurora Colony, Banjara Hills. This adventure was conducted in a Kia with the registration number TS-09 GB 4488.
The authorities detained the suspected operators during the transmission of these hawala payments, blocking the continuance of what looks to be an unlawful financial network. This operation demonstrates law enforcement authorities’ commitment to combating illegal financial transactions and ensuring the region’s financial integrity.
The accused persons are presently in police custody, and more investigations are underway to determine the entire scope of this hawala business.
This huge operation serves as a harsh reminder to individuals participating in hawala transactions that such operations will not be permitted, and the law will be strictly implemented to combat the region’s unlawful financial networks.
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