In Hyderabad, a scrap dealer’s house was raided based on a tip-off and Rs 1.24 crores of unaccounted cash was seized in the raid. The accused, identified as 30-year-old Shoaib Malik told authorities that he is a native of Meerut and came to Hyderabad earlier in February to start dealing in scrap. The raid was conducted earlier on Thursday, and the accused was arrested by the Humayun Nagar police.
According to reports, the commissioners’ task force received a tip-off which led them to Malik’s residence at Hyderabad’s Masab Tank. During interrogation, Malik told police that his uncle had asked him to collect the cash in the city. Based on his uncle’s directions, he sent his associate Aaqlaq to collect the cash.
After the cash was collected, his uncle said that the cash is to be distributed among four individuals that were identified as Sambhav, Adil, Minaj Saddam and Safi, all based in Hyderabad. When Malik failed to give an account of the cash kept at his residence, he was arrested as a suspect of money laundering.
Earlier in 2021, another shocking news had broken wherein a scrap dealer was arrested for having 7kg of Uranium in his possession. The radioactive element was estimated to be worth Rs 21.3 crores.
The Facts of the Matter
When one thinks of a scrap dealer, they would not think of the said person possessing a hefty amount of cash, and they would certainly not think of the said dealer drowning shoulder deep into crores of rupees. Recently, the Hyderabad authorities arrested a scrap dealer who had in his possession, Rs 1.24 crores of unaccounted cash.
Commissioner’s Team Receives Tip-Off
The raid was conducted earlier on Thursday. As per P. Radha Kishan Rao, deputy commissioner of police, commissioner’s task force, his team received a tip-off, which led them to 30-year-old Shoaib Malik, a resident of Masab Tank, Hyderabad. During the raid, the authorities received Rs. 1 .24 crores in cash, all unaccounted for.
Accused a Native of Meerut
During the preliminary interrogation, Malik told police that he is originally a native of Meerut and had come to Hyderabad to deal in scraps back in February. During his stay in Hyderabad, his uncle Kamil Malik asked him to collect cash from a person identified as Bharath in Hyderabad’s Gujarati Gali.
After he collected the cash, his uncle asked him to distribute the money among four individuals – Sambhav, Adil, Saddam, and Shafi, all based in Hyderabad.
Accused Arrested for Money Laundering Suspicion
During the interrogation, Shoaib failed to produce relevant statements for the Rs. 1.24 crores. He was arrested as a suspect of money laundering and handed to the Humayun Nagar police station. A probe is currently underway and authorities are now focusing on the trail of unaccounted cash.
How Mumbai ATS Arrested Scrap Dealer with Uranium
It should be noted that this is not the first time a scrap dealer in India was nabbed by the authorities for illicit activities. In May 2021, the Maharashtra state Anti-Terror Squad arrested two men for possessing and attempting to sell Rs. 7.1 kg radioactive uranium. The uranium was estimated to be worth Rs. 21.3 crores.
Back in February 2021, the ATS received a tip-off that one Jigar Jayesh Pandya was trying to sell uranium pieces. A dummy customer was sent by ATS who bought Rs 1 lakh worth of uranium, which was then sent to the Bhabha Atomic Research Centre for further analysis.
Pandya led the authorities to Abu Tahir Choudhary, a scrap dealer who wanted to sell uranium for Rs 5 crores. Both Jigar and Abu were booked under the Atomic Energy Act, 1962.