ED Raids Telangana Revenue Min In Money Laundering Case

Hyderabad: The Enforcement Directorate on Friday raided multiple premises linked to Telangana revenue minister P Srinivasa Reddy and some others. These raids were conducted as part of an investigation of a money laundering case linked to an alleged smuggling racket of more than Rs 100 crore.

The ED officials searched around five premises in Telangana including Hyderabad.

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 allegedly bought seven watches worth Rs 7 crore.

It is alleged that the payments for these costly watches are linked to an alleged hawala and crypto currency racket worth Rs 100 crore.

Ponguleti Srinivasa Reddy is a Congress leader and as a minister in Telangana holds the portfolios for Revenue, Housing, Information and Public Relations.