Illegal money racket busted, seven accused held

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Hyderabad, Mar 26 (UNI) The sleuths of Commissioner's Task Force, Central Zone Team today apprehended seven people for carrying out illegal money transfer and seized Rs 24.04 lakh from their possession.

Police said acting on a tip off, the Task force arrested Patel Ramesh, Pankaj Patel, Jagdish Patel, Dhanji, Mohd Shoeb, C Anil Kumar and AR Julian Dinesh of Gujarat was running illegal money transfer business at Mumbai, Gujarat and Hyderabad, among others and charge Rs 300 for one lakh from the customers.

As per the instructions of Dinesh, others were carrying out illegal money transactions, known as 'Hundi Business' by contacting the customers over telephone and collecting and delivering huge amount of money from the customers, for which they were paid salary on monthly basis.

It was suspected that the customers were utilising their services to facilitate the process for black money.

The accused, along with the seized Rs 24.04 lakh were handed over to Income Tax Department for further investigation.


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