Karnataka cyber police bust Rs 290 crore hawala racket, arrest 9 including 4 foreigners

Karnataka police have arrested nine people, including four foreign nationals, for their alleged involvement in a hawala racket and busted a money-laundering scam amounting to Rs 290 crore.

M D Sharath, superintendent of police (cybercrime), who led the investigation, said Anas Ahmed, a Kerala-based businessman, was the kingpin. “We have identified that he has very close connections with the Chinese hawala operators. Anas Ahmed is married to a Chinese national and incidentally, he studied in China,” the SP said.

Ahmed was found to be offering several financial schemes online and through mobile applications luring clients with promises of high returns on investments.