Hyderabad police on Saturday arrested four youths and seized unaccounted cash in their possession. Police found the men carrying Rs 12 lakh, all in new Rs 2,000 currency denominations without proper documentation. Police arrested the men from Panjagutta police station limits.
The four men, whose names the police have withheld, are being questioned on the source of the cash and purpose of its possession. Along with the cash, the police have also seized mobile phones of all accused. A case has been registered in this regard and investigations are underway.
Hyderabad has come under severe scrutiny after officials from the Income Tax department and the Central Investigation Bureau bust many money laundering and exchange rackets post demonetisation. Many government staff including postal department officials have been arrested in connection with laundering by various agencies. Following the raids conducted by central agencies unearthing illegal and unaccounted assets worth crores of rupees, the Hyderabad police have also kept vigil.