ED Raids Telangana Minister Ponguleti Srinivasa Reddy's Residence

Hyderabad: ED is conducting searches at the residence of Telangana Minister of Information and Public Relations Ponguleti Srinivasa Reddy, regarding money laundering case linked to an alleged smuggling racket, on Friday.  

ED officials also carried out searches in Telangana Minister  Reddy’s properties and company Raghava Constructions and Infra offices located in Banjarahills, Hyderabad.

The Enforcement Directorate also raided multiple premises linked to Telangana revenue minister P 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, official sources said. 

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.