The Hyderabad police busted a major hawala racket in the city and seized cash of Rs 1,40,20,000, two four-wheelers and five cell phones from the possession of four people in this connection on Friday.
The arrested suspects were identified as civil contractor P Murali (33), accountant S Rajesh (34), dentist K Jagdish (34) and car driver P Srinu (40).
The suspects were carrying the money without proper documents and failed to explain the reason as to why they were carrying the amount.
The car carrying the money was intercepted by the Task Force team of Hyderabad city police from Yousufguda, said an official press release from Hyderabad city police commissioner's office.
The seized items along with suspects were handed over to the Income Tax department for further investigation.
Disclaimer: No Business Standard Journalist was involved in creation of this content
