infowebsite.in
The ED divided into 16 teams are carrying out searches at Ponguleti Srinivas Reddy’s residence under the heavy security of the CRPF.
Ponguleti Srinivas Reddy file photo.
Hyderabad: Enforcement Directorate searches are ongoing at Telangana Minister Ponguleti Srinivas Reddy’s residence in Jubilee Hills and his farmhouse in Himayatsagar. The residences of his brother, his son and daughter and other relatives are also being searched, Tv9 telugu reported.
The ED divided into 16 teams are carrying out searches under the heavy security of the Central Reserve Police Forces (CRPF).
Srinivas Reddy is a prominent businessman and contractor, hailing from Khammam. The searches are a part of a money laundering case linked to an alleged smuggling racket of more than Rs 100 crore, official sources said.
In November last year, Enforcement Directorate and Income Tax department had carried out searches at his residence in Khammam town and also at his house in Nandagiri Hills, Hyderabad.
The money laundering case is in connection to a Directorate of Revenue Intelligence (DRI) complaint against Reddy’s son, Harsha Reddy of the Raghav Group, who allegedly purchased seven watches worth Rs 5 crore.
The payment is linked to an alleged hawala and crypto currency racket worth Rs 100 crore and a man named A Naveen Kumar is under the scanner of the ED.
Next Article
Follow us on social media
