Two people were arrested after they were found moving suspiciously, including a Nizam College faculty member who was a former Akhil Bharatiya Vidya Parishad (ABVP) functionary, and unaccounted cash worth Rs 70 lakh was seized from their possession, police reported.
The accused have been identified as P. Kishan Rao (38) of DD Colony in Hyderabad and Vemula Vamshi (26) a manager at Redwinz, and resident of Shivasai Hills Colony in Kismatpur by Panjagutta police who are investigating the case.
According to police, the two were apprehended on Thursday night while checking in Dwarkapuri Colony. The two appeared to be moving in suspicious circumstances, the police said. Police stated that they discovered the cash in their possession after stopping the car.
According to police, the pair were unable to provide “satisfactory” answers when questioned. Soon after, two mediators arrived on the scene, and the money was counted.
Rao’s confessional statement revealed that he is from Huzurabad and works as an Assistant Professor at Nizam College, according to police. He also stated that he had discharged his duties as ABVP Abids Zone in-charge. In the evening, the cash amount of Rs. 70 lakh was collected from one Madhu, a resident of Banjara Bills. A case was filed by the police under Section 102 of the Indian Penal Code.
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In the last month, police have seized more than Rs 10.96 crore in suspected hawala money in the city and suburbs. While some suspected hawala operators were apprehended, some sub-operators and a few others who were carrying the money were detained by police after failing to account for the funds.
In another case, on October 12, police seized Rs. 2 crores in unaccounted cash from four individuals suspected of being hawala money. According to the police, four individuals were waiting on Banjara Hills Road No. 12 with the cash when they were caught based on specific information. They allegedly received information from a contact in Gujarat to deliver the money to another person in Banjara Hills.
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