According to official sources, the Enforcement Directorate searched several locations connected to Telangana revenue minister P Srinivasa Reddy and a few others on Friday as part of a money laundering investigation into an alleged ₹100 crore smuggling scheme.
They added that about five locations throughout the state, including Hyderabad, are being checked.
The Directorate of Revenue Intelligence (DRI) filed a complaint against Reddy’s son, Harsha Reddy of the Raghav Group, alleging that he spent ₹ 7 crore on seven watches. This complaint is the source of the money laundering case.
The payments for these are connected to a purported ₹100 crore hawala and cryptocurrency scheme, and an individual by the name of A Naveen Kumar is being investigated by the ED.
Ponguleti Srinivasa Reddy, a Congress leader, is the minister for Revenue, Housing, Information and Public Relations in the Telangana government.
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