Economy

Anti-Corruption Bureau unearths disproportionate assets from two officials

Anti-Corruption Bureau unearths disproportionate assets from two officials”

Reddy was planning to throw a grand party to his friends and relatives on the occasion of his retirement at a resort overseas and even booked flight tickets for them. While Raghu was taken to Visakhapatnam early Tuesday, produced before the ACB court and remanded in judicial custody till October 9, ACB sleuths arrested the husband and wife duo of Nalluri Venkata Siva Prasad and Chintamaneni Gayatri in the same case in Vijayawada.

The officials also found properties in Visakhapatnam, Chittoor, Hyderabad and at Maharashtra's pilgrim town of Shirdi.

The authorities also conducted raids at the house of his cousin and his relatives.

The Anti Corruption unit recovered Rs 8 lakh in cash and gold jewellery, documents related to ownership of a lodge and duplex bungalow in Shirdi of Maharashtra and seven houses/plots/agricultural land belonging to G Venkata Raghu from eight different locations. Twenty teams from the agency raided multiple properties of GV Raghurami Reddy, the director of town and country planning, and NV Sivaprasad, a Vijayawada Municipal Corporation official.

Speaking to India Today, Anti-Corruption Bureau (ACB) Director General RP Thakur said, "We are carrying out investigation and it's a time taking process".

The market value of the assets confiscated so far has been estimated to be around Rs 500 crore.

15 teams of the ACB carried out search operations in two states since Monday morning.

According to media reports, Sivaprasad was allegedly a benami (conduit) for Reddy, and opened and operated several real estate firms.

"Reddy was arrested under the Prevention of Corruption Act for possessing assets disproportionate to his income, which would be around Rs 1 lakh per month". Officials who carried out raids in Vijayawada claimed that huge amounts of gold and diamonds were stashed in electronics like washing machines.



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