Money transfer racket busted in Hyderabad
(WorldNews India)

[Telangana] [India], Feb 22 (ANI): The police on Thursday busted a hawala money transfer racket in Hyderabad and nabbed three persons involved. Officers of Commissioner`s Task Force, Central Zone Team, seized Rs 27,90,000 and seven mobile phones from the arrested people namely, Deevi Madhusudhana Prasad, Sohanlal, and Kishore Kumar. A currency counting machine and a fake press Identity card was also recovered. Madhusudhana Prasad had been carrying out illegal Hawala money transfer business clandestinely and supplying money on commission basis at the rate of 0.6% to 0.8% to people. The seized money has been handed over to Income Tax Department for further investigation.(ANI) ......