Vijayawada: The commissioner’s Task Force (CTF) seized Rs 1.47 crore cash and US $ 34K worth Rs. 25 lakhs and four persons arrested on Tuesday, near Gollapudi, under Bhavanipuram police station limits, while conducting vehicle checking in the highway.

The police seized a Maruti Swift bearing registration number AP37BW 4532 used for transporting cash. The arrested were identified as Praveen Jain, a jewellery shop owner in Narsapuram of West Godavari district, Chamakuri Ananda Rao, Chamakuri Hari Babu and one from Vijayawada. Vijayawada Commissioner of Police Bathini Sreenivasulu said media persons in a press conference, that they received information from reliable sources that the prime accused Praveen Jain was transporting cash without valid bills.

As part of their plan, Praveen Jain gave Rs 50 lakh and 34,000 US dollars to his employees Ananda Rao and Hari Babu and the remaining amount was pooled from four others Valluri Sivanath (Rs 50 lakh), Bharat (Rs 20 lakh), Uttam (Rs 25 lakh) and Divakar (Rs 12 lakh). “On suspicion, we checked their vehicle thoroughly and found the cash in the back seat of the car. Since the accused is into gold business, they might be transporting the cash to buy gold in black market.

Role of his brother Keerthi Jain, a gold trader in Hyderabad, is also being examined,” the Commissioner said. The seized cash was handed over to Income Tax department and the Enforcement Directorate was informed for further action. Bhavanipuram police took the accused into custody.