Mangalore: Hawala racket busted. 27 arrested. Rs 78 Lacs seized

Mangalore: Hawala racket busted. 27 arrested. Rs 78 Lacs seized

Mangalore Today News Network

Mangalore, October 6, 2012: The CCB police arrested 27 persons allegedly in connection with Hawala money dealings at Ballal Bagh on Oct 6, Saturday.

Mangalore city crime branch police led by inspector Venkatesh Prasanna carried out a surprise raid based on tip off in a house at Ballal Bagh on Saturday October 6, and arrested 27 persons and seizing Rs 78,69,850 in cash. Most of the arrested persons are from Hubli.

 

The police had reached the said house in the morning on Saturday and arrested the inmates and laid the trap. The rest of the persons involved in the racket were called in pretence of business and had come to the house with cash as requested. The police have enacted the drama well till evening and was able to arrest 27 persons with black money. However the leader of the racket escaped from arrest.

The raided house was rented out to Suresh Kumar hailing from Gujarat. The police informed that he has been involved in hawala money dealings for some time, dealing with big amount of money. The main accused, Suresh Kumar is yet to be arrested.

The police also confiscated 28 mobile phones, 17 bikes, in addition to Rs. 78,69,850 lakh in cash.

 

 

 

The Hawala dealings were run under the name of Patel Ashish Kumar Kanthilal & co, based in Ahmedabad with branches in many cities. Huge amount is traded everyday through a network of agents spread all over the country.

Inspector Venkatesh Prasanna said that the seized money is just the tip of the ice burg and police expects to unearth more black money. More arrests are expected in a day or two in connection with this malpractice.

Meanwhile, the police are still investigating the case in various directions.