Hawala dealer & chamber of secrets: I-T sleuths seize Rs 5.7 cr from bathroom safe

Written by | December 11, 2016 | 0

Bengaluru, December 11: The Income Tax department seized the unaccounted amount of Rs 5.7 crore in new currency on Saturday from Chitradurga and Hubli in Karnataka.

Also, Rs 90 lakh in old currency and 32 kg gold bullion was recovered by IT sleuths. All the cash and gold was recovered from a secret chamber in the bathroom at the home of a hawala operator.

The cash and gold were seized as part of IT departments raid against the black money hoarders following the demonetisation move. The hawala operator from whose residence the money and gold have been recovered is yet to be identified.

The premises were raided following the intelligence inputs about the presence of huge amount of cash at the residence. As taxman raided the residence they were surprised to find the stainless steel safe well hidden above the wash basin and inside the tiled walls of the bathroom.

The IT officials found cash stash of Rs 5.7 crore, all in new Rs 2,000 notes, 28 kg of bullion (gold biscuits), 4 kg of other gold and jewellery stuffed inside this bathroom safe. Hundreds of mothballs were kept inside it to keep it safe from the termites.

These assets were recovered after the Income Tax department’s investigation wing began searches against casino and bullion traders in Hubballi and Chitradurga districts on Friday. Several documents and Rs 90 lakh cash in smaller denomination of Rs 100 and Rs 20 notes has been seized following the searches.

“The searches, in this case, are still going on at various places and the valuation of the bullion and jewellery is being conducted,” they said. this is not the first such instance where unaccounted wealth has been seized. Money worth crores have been seized in IT raids at various locations so far.

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