Vizag police busted a suspected hawala racket and recovered cash worth Rs 70 lakh stacked in two bags which was being transported in a car on Sunday night near the Telugu Talli flyover in Vizag city. The police arrested two persons Roshan Kumar Jain and O Srinivas and launched a search to nab a few more linked to the case.
The police said that Roshan Kumar Jain, along with his business partner, Charitra Kumar, was running an electrical shop near Rama Talkies in Vizag city. ON the instructions of Charitra Kumar, Rohan along with his friend Srinivas on Sunday evening went to Autonagar of Gajuwaka in Vizag city to meet Vikram, who is the owner of a glass factory.
Minutes after reaching the point, Roshan Kumar received an image of a currency note of Rs 10 through WhatsApp. When Roshan showed the code currency note, Vikram gave two bags of currency notes (Rs.500 and Rs2000 denominations) WORTH Rs 70 lakh and asked Roshan to handover the bags to Praveen Kumar Jain through a code.
When Roshan and Srinivas were returning from Gajuwaka to handover the money, the Three Town police led by Inspector K Eswar Rao and his team intercepted the vehicle and seized the unaccounted amount from the due. The police handed over the seized amount to the Income Tax department for further investigation. The investigation has revealed that Roshan was entitled to a commission of 0.3 percent of the total money for illegal transactions.
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