The Enforcement Directorate has claimed to have busted a multi-crore hawala racket with the seizure of nearly Rs 1 crore (Rs 10 million) from a leading importer of Chinese mobile phones.
The agency conducted a day long search at various offices of the businessman across the national capital, including Karol Bagh and Chandini Chowk areas recently and seized a large number of documents showing foreign bank accounts, unaccounted investments and receipts and payments showing hawala transactions worth several hundred crore rupees, officials said on Thursday.
The accused is one of the leading importers of the Chinese mobiles, which according to central security agencies, are 'risky' as they don't have the required International Mobile Equipment Identity.
These phones are difficult to monitor and therefore are becoming an increasingly preferred mode of communication for those into illegal actions.
Sources said the hawala operator use to import Chinese mobile phones in large quantity which was then sent out to various mobile markets in the country.
Sources said the agency has also seized documents, including bank invoices of foreign sellers in Hong Kong and China, foreign bank accounts in the name of group members.
They said the group members, who were interrogated by the agency have admitted to their involvement in hawala transitions and import manipulations.
In a similar case, the ED had busted another international hawala racket spread across continents last year which had led to huge cash recovery of about Rs 4.5 crore (Rs 45 million) and fake currency too.
