Hyderabad: Bowenpally Police on December 4 arrested two Gujarat-based businessmen and recovered ₹4.05 crore in unaccounted hawala cash. The arrests were made in connection with a cheating case registered earlier under Cr. No. 665/2024.
The accused, identified as Prakash Motibhai Prajapathi (30) and Pragnesh Keerthi bai Prajapathi (28), were intercepted while travelling in a Hyundai Creta in Mahabubnagar district. Police seized the cash and are verifying its source and financial links.
Bowenpally hawala racket linked to earlier RTGS fraud
The cheating case was initially registered on December 7, 2024, after V. Vishwanath Chary of Nagole complained that he and two friends gave ₹50 lakh in cash to one Mohammad Subhan Pasha for an RTGS-based return of ₹60 lakh. The promised transaction never materialised, and the money was not returned.
During interrogation, Prakash confessed to receiving ₹50 lakh from the complainants in August 2024 under the false pretext of an RTGS deal. He also admitted to transporting hawala money from Nagpur to Bengaluru.
Police secured the seized cash under a panchanama and confirmed it was being moved illegally.
Police caution public on hawala fraud and easy-money traps
Bowenpally Police urged the public not to fall for fraudulent money-doubling offers or informal money transfer deals. They advised citizens to report any suspicious activity or hawala movement to their nearest police station.
The operation was led by DI M.N. Anand Kumar of Bowenpally PS with support from personnel across the North Zone, Cyber Cell, and Karkhana Police Station.