Five persons of a gang who looted Rs 1.75 crore from a businessman by posing as task force officials were arrested on Tuesday, said police.
The accused were identified as – Reddypalle Kishore, Nagaraju, Das, Harsha Bhavani Shankar and Amarchand. However, the main accused Ravindra is still absconding. So far police have recovered Rs 1.26 crore from them.
As the entire money was unaccounted it is being suspected it was earned through illegal means. “The police are now suspecting that the money was a part of a hawala transaction for the elections as the entire money was unaccounted by Abhinav Reddy,” Rao said.
The matter is now being investigated by the Enforcement Department and Income Tax Department for further investigation.
(With ANI inputs)
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