Police raid residence of jewellery store proprietor in Ballari

Seize Rs 5.60 crore in cash, 3 kgs of gold, 103 kgs of silver jewellery

Confiscated items may be linked to illicit Hawala transactions

In a recent development, Karnataka Police conducted a raid at the residence of a jewellery store proprietor located in Ballari, resulting in a significant seizure. The operation yielded a total of Rs 5.60 crore in cash, alongside 3 kilograms of gold, 103 kilograms of silver jewellery, and 68 pieces of silver bars.

The raid, which took place on Sunday, targeted the residence of Naresh Soni, the proprietor of Hema Jewellers situated in Kambali Bazaar, Ballari. Subsequently, Soni was apprehended by the authorities for further interrogation regarding the seized assets.

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Authorities have raised suspicions that the confiscated items may be linked to illicit Hawala transactions, prompting the initiation of a formal investigation. In response, Karnataka Police have registered a case to delve deeper into the alleged unlawful dealings.

The seizure, valued at approximately Rs 7.6 crore, underscores the ongoing efforts by law enforcement to combat illicit financial activities and curb the flow of black money within the region.

As investigations proceed, authorities remain committed to upholding the rule of law and ensuring accountability within the realm of business and finance.