Hyderabad: Hyderabad Task Force on Tuesday busted an illegal money transfer racket here near Star Hospital in Banjara Hills and seized cash worth RS.48,00,200.
Three persons, namely Vipul Kumar Patel, Upendra Kumar Patel, and Patel Chetan Kumar were apprehended by the West Zone Task Force Team.
Initial investigation revealed that the accused supplied cash without any accounts to needy customers at an interest rate of 0.6 per cent. Orders were taken over the phone under their company P.Umesh Chandra and Company situated in Ahmedabad, Surat, and Mumbai.
Further investigation in the matter is underway.