In a significant crackdown on illegal financial networks, the Hyderabad police on Friday seized a massive sum of Rs 4.05 crore in hawala cash that was being transported from Nagpur to Bengaluru. The operation led to the arrest of two businessmen from Gujarat who were allegedly ferrying the unaccounted money.
The Interception and Arrest
Acting on intelligence, a team from the Bowenpally police station intercepted a Maharashtra-registered SUV near Addakal in Mahabubnagar district. Upon searching the vehicle, officials discovered the huge cache of cash. The two occupants, identified as Prakash Prajapati (30) and Pragnesh Prajapati (28), were immediately taken into custody.
During preliminary interrogation, the accused confessed that the hawala money had originated in Nagpur and its final destination was Bengaluru. The police have secured the seized amount under a panchanama (seizure memo) as evidence.
Past Criminal Record of Main Accused
The investigation took a more serious turn when it was revealed that the main accused, Prakash Prajapati, is already wanted by the Bowenpally police in a separate cheating case. A case was registered against him on December 7, 2024, based on a complaint by Hyderabad resident V Vishwanath Chary.
Chary alleged that Prakash and his associates duped him and his friends in a cash-for-RTGS fraud. The accused had promised to transfer Rs 60 lakh into Chary's bank account against an upfront payment of Rs 50 lakh in cash. However, after receiving the cash, Prakash and his group never initiated the promised bank transfer, causing a loss of Rs 50 lakh to the complainant.
Ongoing Investigation and Official Statement
North Zone DCP S Rashmi Perumal stated that a thorough investigation is underway to uncover the source of the seized money, establish its ownership, and identify the wider hawala linkages. The police are probing the entire network involved in routing such a large sum of money illegally across state lines.
This seizure highlights the ongoing efforts by law enforcement agencies to clamp down on underground financial channels that are often used to fund illegal activities and evade taxation. The police have not ruled out the possibility of more individuals being involved in this interstate hawala racket.
