Hyderabad: With the arrest of six persons, including four from Gujarat, the city police claimed to have busted a hawala racket and recovered over Rs 85 lakh from them.
Based on a tip-off, sleuths of Commissioner`s Task Force (North Zone) busted the racket last night and nabbed six accused, including Shaik Mohammed Ashraf, a city-based accountant and Rajendra Kumar Ambalal, (hawala cash receiver) a native of Surat, from Narayanguda area here.
Ashraf was arrested when he was going to hand over the cash of Rs 84.75 lakh to Ambalal that was meant to be forwarded to hawala agent Laxman (absconding) for transferring the same to Dubai through hawala, police said today.
Ashraf`s driver Reddy Kumar, besides Ambalal`s associates Patel Jayesh Kumar and Patel Mahendra (both from Mehsana district in Gujarat) and Rathod Kanak from Junagad district in Gujarat, were also arrested.
Efforts are on to nab the two absconding accused Shaikh and Laxman, police added.