On December 5, Hyderabad police confiscated ₹4.05 crore in cash from a vehicle and then detained a hawala syndicate member and his associate, officials announced. Investigators say the money was part of a clandestine route moving funds from Nagpur to Bengaluru. The suspects, driving a Hyundai Creta with a Maharashtra registration, were intercepted by Bowenpally police as they crossed the Addakal Police Station perimeter in Mahabubnagar district. Deputy Commissioner S. Rashmi Perumal presented the accused alongside the seized cash to local media. The men, Prakash Motibhai Prajapathi (30) and Pragnesh Keerthibhai Prajapathi (28), are businessmen from Gujarat. The ₹4.05 crore is now under a panchanama and will be scrutinised for its source, ownership, and any illegal financial links, the DCP said.
Prakash Prajapathi has also been named in a cheating case that was registered at Bowenpally Police Station on December 7, 2024. In that matter, V. Vishwanath Chary of Nagole accused himself, along with friends Pradeep and Ravi, of giving ₹50 lakh to Mohammad Subhan Pasha in a cash‑RTGS scheme where they were promised ₹60 lakh via RTGS. The money was handed over but no RTGS was executed and the amount was never returned. A complaint under Sections 316(2) and 318(4) of the Bharat Nyaya Sanhita was filed.
Earlier, on December 4, after receiving credible intelligence about the main suspect’s movements, Bowenpally police intercepted and arrested Prajapathi and an aide near the Addakal Police Station. During questioning, Prajapathi confessed to defrauding the complainant of ₹50 lakh in August 2024 as part of the cash‑RTGS scam, and also admitted his role in transporting ₹4.05 crore of hawala money from Nagpur to Bengaluru.
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