Did Hyderabad Police Uncover Rs 4.05 Crore Hawala Cash?
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Synopsis
A significant bust by Hyderabad police leads to the arrest of two businessmen involved in a Rs 4.05 crore Hawala operation. The police's swift action not only seizes illegal cash but also uncovers a fraud scheme involving a cash–RTGS exchange. How did the authorities track down these culprits? Read on to find out more.
Key Takeaways
- Hyderabad police have seized Rs 4.05 crore in cash linked to Hawala.
- Two suspects were arrested during the operation.
- The cash was being transported illegally from Nagpur to Bengaluru.
- The police are verifying the source and ownership of the seized funds.
- This incident highlights the ongoing issue of financial crimes.
Hyderabad, Dec 5 (NationPress) The police in Hyderabad have successfully confiscated Rs 4.05 crore in cash from a vehicle and taken into custody a suspect involved in a Hawala operation along with an accomplice on Friday, as reported by officials.
Authorities indicated that the cash represented Hawala funds illicitly transported from Nagpur to Bengaluru.
The Bowenpally police intercepted and detained Prakash Prajapathi and an associate within the jurisdiction of the Addakal Police Station in Mahabubnagar district, while they were driving a Hyundai Creta with a registration from Maharashtra.
S. Rashmi Perumal, the Deputy Commissioner of Police for Hyderabad City (North Zone), presented the arrested individuals alongside the seized cash to the media.
The individuals have been identified as Prakash Motibhai Prajapathi, 30, and Pragnesh Keerthibhai Prajapathi, 28, both of whom are entrepreneurs hailing from Gujarat.
The confiscated cash is currently secured under a formal panchanama and is undergoing verification concerning its origins, ownership, and illegal financial connections, according to the DCP.
Prakash Prajapathi is the primary suspect in a fraud case registered at the Bowenpally Police Station on December 7, 2024.
A complaint was filed by V. Vishwanath Chary, a resident of Nagole in Hyderabad, stating that he and two associates, Pradeep and Ravi, handed over Rs 50 lakh to Mohammad Subhan Pasha for a cash–RTGS exchange arrangement, which promised them Rs 60 lakh through RTGS.
Although the cash was delivered, the RTGS transaction never occurred, and the funds were not returned.
A case has been filed under Sections 316(2) and 318(4) of the Bharat Nyaya Sanhita (BNS).
On Friday (December 4), following credible information about the main suspect's movements, the Bowenpally police apprehended Prakash Prajapathi and his aide within the Addakal Police Station limits in Mahabubnagar district, confirmed the police official.
Upon interrogation, Prakash Prajapathi confessed to defrauding the complainant of Rs 50 lakh in August 2024 as part of the cash–RTGS scam.
He also admitted to his role in transporting Rs 4.05 crore in Hawala funds from Nagpur to Bengaluru.
Point of View
I believe this incident highlights the ongoing challenges law enforcement faces in combating financial crimes, particularly the intricate networks behind Hawala operations. The swift response by Hyderabad police demonstrates their commitment to upholding the law and protecting citizens. This case serves as a reminder of the vigilance required in financial dealings.
NationPress
05/12/2025
Frequently Asked Questions
What is Hawala?
Hawala is an informal method of transferring money without any physical money moving, often used in situations where traditional banking services are inadequate.
Who were the arrested individuals?
The arrested individuals are Prakash Motibhai Prajapathi and Pragnesh Keerthibhai Prajapathi, both businessmen from Gujarat.
What was the amount seized?
The Hyderabad police seized Rs 4.05 crore in cash during the operation.
What was the fraud case about?
The fraud case involved a cash–RTGS exchange deal that promised a higher return but resulted in a loss of Rs 50 lakh for the complainant.
What actions did the police take?
The police intercepted the suspects based on credible information and conducted an investigation that led to the seizure of the cash.
