Indore: In a raid, the Income-Tax department recovered cash and gold worth R four crore on Friday. Officials raided the offices and homes of bullion traders Honey-Toney where they confiscated R one crore cash and gold and jewels worth another R three crore.
Keshav Nachani (Honey) and Om Prakash Dhanwani allegedly made transcations from 100 false accounts and acquired crores in the form of black money.
The duo bought and sold gold across the country illegally. They came under the Income Tax department scanner when it was noticed that their accounts had no pan number, which is against the law.
Raids in more offices and locations from where they operated are expected on Saturday.
The duo allegedly operated from various parts of the country and their network is spread offshore as well. They are also accused of making money illegally through construction of malls.
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