3 held with 70 lakh hawala money

Hyderabad: Central Zone Task Force sleuths on Tuesday night busted a hawala money racket and arrested three persons in this connection. They seized Rs 70.63 lakh cash and 2 two-wheelers and 3 mobile phones from their possession.

According to Task Force sleuths, on credible information they intercepted two bikes and arrested K Naresh,35, a dairy businessman, Kasim Mohammed Raza ,44, manager at AGS Security Services in Begumpet and Hyder Raza, office boy, for transporting the huge amount of money illegally.

The team kept surveillance over the accused's movements and identified the hawala money collection and transportation at Sravana Nursingh Home line at Malakunta and seized the money. The three accused along with seized material were handed over to SHO Begumpet police station for further investigation.