Narasapuram, Synonymous With Hawala Network

Illegal money seized - Sakshi Post

Narasapuram: The very name Narasapuram conjures a place tied to a long coastline and the beauty of the Godavari landscape. It brings to mind the names of political giants and film stars. The flip side however, is that Narasapuram has become synonymous with Hawala (an illegal money transfer system) across many centres. The name of a prominent jewellery store owner and its owner, Keerti Kumar Jain, is doing the rounds.

Police intercepted a car near Tada in Nellore district and seized Rs. 6.52 crore on Wednesday. It turned out that the entire amount reportedly belonged to Keerti Kumar Jain. A sizeable part of the seized amount comprised foreign currency leading to speculation that the hawala racket could be operating at an international level.

Two years ago, the son of the same individual was arrested with regard to IPL match-fixing in Bengaluru, creating ripples all around.

In the 2014 elections a huge sum of money was seized in Bhimavaram, from the owner of the jewellery shop in question, it is learnt. The news at that time was that he was facilitating the illegal money transfer on behalf of some candidates in the fray. Interestingly, in the December Telangana elections, clerks of the same shop were arrested by the Telangana police in Karimnagar after intercepting a car in which they were ferrying Rs. 7 crore. The money was seized as they could not account for it.

Back in 2006, East Godavari police seized ornaments made out of 20 kgs of gold and 500 kgs of silver which were being transported without bills.

More often than not, the money is transported in an old car, with a built-in concealed compartment. When intercepted, the individuals claim that the money is meant for purchase of gold, ignoring the fact that wholesale buyers of gold should pay using demand drafts. Further interrogation brings the concealed compartment and hawala connections to the fore. The credibility of the authorities concerned comes under cloud with very few cases being registered.

Also Read: Rs 4 Crores Seized in Saifabad, Banjara Hills: Eight Hawala Operators Nabbed

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