Hyderabad, Dec 5 (IANS) Hyderabad police have seized Rs 4.05 crore cash from a car and arrested a Hawala racket accused and his aide on Friday, officials said.

According to the police, it was Hawala money which was being illegally transported from Nagpur to Bengaluru.

Bowenpally police intercepted and apprehended Prakash Prajapathi along with one associate within the Addakal Police Station limits in Mahabubnagar district, while they were travelling in a Hyundai Creta car with a Maharashtra registration number.

S. Rashmi Perumal, Hyderabad City Deputy Commissioner of Police (North Zone), presented the accused along with the money before media persons.

The accused have been identified as Prakash Motibhai Prajapathi, 30, and Pragnesh Keerthibhai Prajapathi, 28. Both are businessmen from Gujarat.

The seized amount has been secured under a proper panchanama and is being verified for its source, ownership, and illegal financial links, the DCP said.

Prakash Prajapathi is the main accused involved in a cheating case registered at Bowenpally Police Station on December 7, 2024.

V. Vishwanath Chary, a resident of Nagole in Hyderabad, lodged a complaint saying that he, along with his friends Pradeep and Ravi, gave Rs 50 lakh to Mohammad Subhan Pasha for a cash–RTGS exchange deal, wherein they were assured Rs 60 Lakh through RTGS.

The cash was handed over to them but no RTGS was made and the amount was not returned.

A case under Sections 316(2) and 318(4) of the Bharat Nyaya Sanhita (BNS) was registered.

On Friday (December 4), acting on credible information regarding the movement of the main accused, Bowenpally police intercepted and apprehended Prakash Prajapathi along with an aide within the Addakal Police Station limits of the Mahabubnagar district, the police official said.

During questioning, Prakash Prajapathi admitted to cheating the complainant of Rs 50 lakh in August 2024 as part of the cash–RTGS fraud.

He also confessed to his involvement in transporting Rs 4.05 crore of hawala money from Nagpur to Bengaluru, she added.

–IANS

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