In money laundering case…
Hyderabad: On Friday, 27 September 2024, the Enforcement Directorate (ED) raided multiple premises linked to Telangana Revenue Minister P Srinivasa Reddy.
Some other areas are also searched as part of a money laundering case linked to an alleged smuggling racket of more than Rs. 100 crore, official sources said.
They said, about five premises in the state, including Hyderabad, are being searched.
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 crores.
The payments for these are linked to an illegal hawala and cryptocurrency racket worth Rs. 100 crores and a man named A Naveen Kumar is under the scanner of the ED.
Ponguleti Srinivasa Reddy, a Congress leader, is the minister for Revenue, Housing, Information, and Public Relations in the Telangana government.
The Brief. Sign up to receive the top stories you need to know right now.