JOIN USThis is said to be the largest amount of hawala money recovered in the twin cities so far.
Speaking to reporters Hubli-Dharwad Police Commissioner K Ramachandra Rao said acting on a definite tip-off, the police team, headed by ACP Naik, Inspector Lokesh J and PI V N Patil raided on Girijadevi Complex at Javalisal in the city and arrested the accused and recovered the money.
The police also seized two money counting machines, 11 mobile phone handsets from the accused. The accused are Bhaktavar S Rathod, S R Rathod, Devaram Patel, Lalit P Goti, Dillamsingh Sajjan and Reedmalram A Rana.
One of the main accused Anil Borate is absconding and search is on to nab him.
The accused had been produced before the court, the Police Commissioner said.
He said during the interrogation it was found that the accused were involved in the Hawala money transaction since two years.
The Income Tax Department sleuths had also registered a complaint in the case.
He also said that the investigation was going on to ascertain further details in the case.