Hawala racket Emerged in Hyderabad

Hyderabad, August 11: A huge hawala racket has emerged in Hyderabad, from the complaint of Chanda Nagar HDFC manager, the police were investigating the case.

From this aspect, The ED officials got the key information about this racket. The police found that Rs 1000 crore was shifted to Hawala in a foreign country annually. Mahesh Khatri, a trader, was found to be moving abroad to whomping Rs. 31 crores, till now 150 crores has transferred, sources said.

The Police have further said that the people have laundered the money by establishing shell companies in the foreign with fake certificates and have round tripped the money.