I-T unearths onion traders’ hawala links
Nashik: After accusations of hoarding and black-marketeering, prominent onion traders in Nashik now face allegations of hawala transactions and links with Dubai.
The income tax (I-T) department, which conducted raids on seven major onion traders in Nashik district, reportedly has evidence of their involvement in hawala transactions.
During the searches, conducted over two days, the traders were found to own assets disproportionate to their known sources of income.
I-T department sources told TOI, “We recovered evidence proving that the traders are involved in hawala transaction with links to Dubai… The traders used to show export and import of onions. However, no actual export or import took place, though money was transferred.”
“We have also found evidences that these onion traders were offering cash loans with interest rates of up to 3% per month,” they added.