Hawala racket busted, Rs 18 lakh seized

 Hyderabad: The central zone task force busted a hawala racket with the arrest of a Bahadurpura-based transporter and seized Rs 18 lakh from his possession, according to a release on Saturday.

Police said the accused Sawai Sharla, 42, was intercepted at Begum Bazaar while transporting the money in a two-wheeler on Friday night. According to the police, Sharla, a Rajasthan native and resident of Ramkote, said he had come in contact with a hawala transfer agent, Manish of Kerala, a couple of months back and had agreed to join the illegal business.

Sharla claimed he was transporting hawala money on a commission of 0.5 to 0.8 per cent per Rs 1 lakh. He also developed contacts with brokers wlsewhere. For identification, he said, they used the serial number on currency notes of lower denominations.

The accused along with the seized property has been handed over to Begum Bazaar police for investigation, said commissioner’s task force DCP  P. Radha Kishan Rao.