Ujjain (Madhya Pradesh): Madhav Nagar police raided an office in a prime locality here on Monday evening and unearthed a hawala racket.
CSP Vinod Kumar Meena said that acting on a tip-off, police raided Shrinath Tower, located near Tower Chowk in Freeganj area. The police got information that money laundering through hawala is being conducted from two chambers of the building,
Though most of the chambers in the multi-storeyed building are occupied by lawyers, two of such chambers belong to one Lucky Jain, resident of Alkapuri Colony. Hawala business was being operated from Jain's chambers.
On raiding the chambers of Lucky Jain, a police team was astonished to see the amount of cash there. Around Rs 50 lakh 75 thousand comprising 100 bundles of notes of denominations of Rs 2000, 500, 200 and 100, innumerable bundles of slips and their accounts besides 3 big and 2 small currency counting machines were recovered.
The CSP said that 5 persons have been taken into custody from the spot. Matching of cash with the entries of files is being carried out and the matter may be handed over to the Income Tax department after police investigation, he added.
