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Over 1 crore seized from paddy broker in Hyderabad

Press Trust of India  |  Hyderabad 

Police have seized over Rs 1.44 crore, alleged to be hawala money, from a paddy broker, they said today.

Acting on a specific information received regarding hawala transactions, a Special Operation Team of Rachakonda Commissionerate last night caught Dontham Shetty Prasad, who used to collect huge amounts of cash every weekend, alleged to be hawala money, police said.

"Yesterday night, he was intercepted while he was on his way to board a bus at LB Nagar and taken to police station. After verification it was found that he was carrying over Rs 1.44 crore in cash" said Rachakonda Commissioner of Police Mahesh Bhagwat.

When interrogated, the person revealed that he is a paddy broker and every weekend he collects cash in the city and would then travel to Nellore by bus.

"He did not produce any documents in support of the transaction and hence, a case has been booked under Section 102 (power of police officer to seize certain property) of CrPC. The case has been forwarded to the IT department," the CP said.

A probe is on in the case.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, October 16 2016. 16:07 IST