Drug syndicates exploiting bank auctions to buy vehicles for narcotics transport | Hyderabad News
Hyderabad: Members of drug peddling networks are buying vehicles put up for auction by banks and using them for the transportation of drugs.
In various drug-related cases, after police nabbed the accused and seized the vehicles in their possession, they found that these were second-hand vehicles. When a probe was conducted to determine whether such vehicles included both cars and bikes, officials of the Telangana Anti Narcotics Bureau (TGNAB) discovered that the accused bought the vehicles at an auction after bank officials recovered them from defaulters who failed to repay the loans taken on the vehicles.
The foreign nationals are in touch with the recovery agents of different banks, who seize defaulters’ vehicles. Based on the information given by the agents, the associates of drug peddlers attend such auctions and buy the vehicles at cheap rates. They are being used both for transporting drugs and for personal use.
Officials have come across at least 30 auctioned vehicles which are in the possession of drug peddlers. In some cases, the seized cars include SUVs and high-end sedans. There is a suspicion that the proceeds of the crime earned through drug sales were being used by the drug syndicates to buy the vehicles.
“This is being done in an organised manner wherein some recovery agents are hand in glove with drug peddlers. They share information as and when a good-conditioned vehicle is up for auction at a low cost,” sources told TOI. Drug peddler Mohammed Osman alias Faisal who was arrested earlier is also involved in this modus operandi.
The vehicles are registered in the names of associates of foreign drug peddlers. The cars and bikes seized from the accused will be attached along with other properties owned by the drug peddlers. Already, TGNAB officials have started attaching the properties by moving petitions in the concerned regional court in Chennai. In 13 cases, the majority of which were registered in Hyderabad and Cyberabad, 66 crore worth of properties were seized, and in 152 more cases, the process is underway.
In various drug-related cases, after police nabbed the accused and seized the vehicles in their possession, they found that these were second-hand vehicles. When a probe was conducted to determine whether such vehicles included both cars and bikes, officials of the Telangana Anti Narcotics Bureau (TGNAB) discovered that the accused bought the vehicles at an auction after bank officials recovered them from defaulters who failed to repay the loans taken on the vehicles.
The foreign nationals are in touch with the recovery agents of different banks, who seize defaulters’ vehicles. Based on the information given by the agents, the associates of drug peddlers attend such auctions and buy the vehicles at cheap rates. They are being used both for transporting drugs and for personal use.
Officials have come across at least 30 auctioned vehicles which are in the possession of drug peddlers. In some cases, the seized cars include SUVs and high-end sedans. There is a suspicion that the proceeds of the crime earned through drug sales were being used by the drug syndicates to buy the vehicles.
“This is being done in an organised manner wherein some recovery agents are hand in glove with drug peddlers. They share information as and when a good-conditioned vehicle is up for auction at a low cost,” sources told TOI. Drug peddler Mohammed Osman alias Faisal who was arrested earlier is also involved in this modus operandi.
The vehicles are registered in the names of associates of foreign drug peddlers. The cars and bikes seized from the accused will be attached along with other properties owned by the drug peddlers. Already, TGNAB officials have started attaching the properties by moving petitions in the concerned regional court in Chennai. In 13 cases, the majority of which were registered in Hyderabad and Cyberabad, 66 crore worth of properties were seized, and in 152 more cases, the process is underway.
