Visakhapatnam: The multi-crore hawala scam involving nine people who floated fake companies and carried out international transactions worth over Rs 570 crore will now be probed by the Criminal Investigation Department (CID). The AP Government transferred the case to CID on Sunday.
Police sources said the money laundering scam is large and the CID can do justice as the investigation agencies will need to visit various parts of India and also travel abroad to ascertain the source of money and nab all the accused persons in the case.
IT officials said nine persons had illegally funnelled out crores of rupees into banks in Singapore, Hong Kong and China through 30 bank branches in Vizag, Hyderabad and Kolkata.
The police said Vaddi Mahesh, 24, had opened 12 bogus firms, including Padmapriya Stone Crushing Pvt Ltd, Balmukunda Warehouse Pvt Ltd, Lavender E-systems Pvt Ltd, Wormwoods Technology Pvt Ltd, Serilos Exports Pvt Ltd, Shivkripa Tradelinks Pvt Ltd, Foxglove Technology Pvt Ltd, Cloud Berry Software Solutions Pvt Ltd, Prime Rose Technology Solutions, Merac E-systems Pvt Ltd, Kaustove Exports and Imports Pvt Ltd and Delphinium E-systems.
IT officials found Mahesh had many properties and partnership firms.
Sources said Chief Minister Chandrababu Naidu has directed DGP N. Sambasiva Rao to act tough against economic offenders and instructed him to consider the option of transferring the case to the CBI.
The Income Tax Department has already conducted preliminary investigation into the case, and the Enforcement Directorate has also taken up a simultaneous probe as crores of rupees have been sent out of the country.
