Telangana news: The Enforcement Directorate (ED) today (September 27) raided multiple premises linked to Telangana revenue minister Ponguleti Srinivasa Reddy and some others as part of a money laundering case linked to an alleged smuggling racket of more than Rs 100 crore, official sources said.
About five premises in the state, including Hyderabad, are being searched, they added. The money laundering case stems from a Directorate of Revenue Intelligence (DRI) complaint against Reddy's son, Harsha Reddy of the Raghav Group, who is alleged to have purchased seven watches worth Rs 7 crore.
The payments for these are 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.
The raid involves 15 teams which are conducting simultaneous raids at multiple locations, including Hyderabad and Khammam, as part of an ongoing probe into alleged financial irregularities. The raids are reportedly operating under the protection of Central Reserve Police Force (CRPF) personnel.
It is reported that the searches are not just limited to Reddy's residence but are also being conducted at various other locations linked to him, including properties in Khammam and Nandagiri Hills in Hyderabad.
More details are awaited in this regard.
