Vizag Hawala case: IT raids in 3 states

vaddi-maheshIncome Tax Department official in Visakhapatnam who have arrested Vaddi Mahesh, the one who transferred Rs 1,000 crore in black money outside India using fake documents, are now conducting raids in 54 locations, in Telangana, Andhra Pradesh and Tamil Nadu states.

After interrogating Hawala racketeer Vaddi Mahesh, raids were conducted on Kaleeswari Refinery and shell companies in Vizag, Srikakulam, and Chennai.

Vaddi created 12 fake companies for illegal foreign exchange dealings. He and his father opened 30 bank accounts.