The City Task Force (CTF) officials arrested a suspected ‘hawala’ operator near the Dwaraka Bus Station late on Saturday night and seized about ₹50.38 lakh from his possession.
The accused has been identified as G. Narasimha Rao (58), a native of Narsapuram in West Godavari district.
Acting on tip-offs on illegal money transactions (hawala), a team under the supervision of ACP (CTF) A. Trinadh Rao conducted a raid and nabbed the person.
Sources said that the police found a code in the cellphone of the accused. Narasimha Rao, who allegedly collected the amount from two persons in the city, was caught when he was trying to board a bus at the RTC complex.
Sources said that the accused had failed to produce any documents to claim that the money belonged to him.
However, the accused reportedly claimed that he was working as a clerk in a jewellery shop, and he had come to the city to collect money from two persons.
I-T Dept. alerted
The accused and the seized cash have been handed over to II Town police station. Cases have been registered under relevant sections. The Income Tax Department has been alerted for further investigation.
