Vijayawada: Vijayawada task force police on Tuesday busted a suspected hawala racket by arresting three persons and seized cash, gold and silver worth Rs 88,29,960.
According to police, the gang was transporting gold and hawala cash through a transport parcel service here. Among the valuables seized was 1.77 kg gold, 40 kg silver and Rs 15 lakh in cash.
Following a tip-off, the task force personnel conducted a raid on Marudhar Express Parcel Service at Matham Street of I-Town.
The sleuths arrested Deva Narayan Singh, 44, Parmar Pradeep Singh, 30, and Yoginath Swamy, 19. All of them belong to Vijayawada city.
According to police, the three accused colluded with one Sanjay Jain, owner of Marudhar Express Parcel Service of Mumbai.
In Vijayawada, Deva Narayan Singh has been taking care of branch service of Marudhar Express Parcel Service.
Using this parcel service, they have been transporting gold, silver and hawala cash to Vijayawada from Mumbai and vice versa.
Police commissioner Ch. Dwaraka Tirumala Rao appreciated task force ADCP K.V. Srinivasa Rao and his team for successfully busting the gang of hawala operators.
