P Srinivasa Reddy is the minister for Income, Housing, Info and Public Relations in Telangana.
Hyderabad:
The Enforcement Directorate on Friday raided a number of premises linked to Telangana income minister P Srinivasa Reddy and a few others as a part of a cash laundering case linked to an alleged smuggling racket of greater than Rs 100 crore, official sources mentioned.
About 5 premises within the state, together with Hyderabad, are being searched, they mentioned.
The cash laundering case stems from a Directorate of Income Intelligence (DRI) criticism in opposition to Reddy’s son, Harsha Reddy of the Raghav Group, who’s alleged to have bought seven watches price Rs 7 crore.
The funds for these are linked to an alleged hawala and crypto forex racket price Rs 100 crore and a person named A Naveen Kumar is underneath the scanner of the ED.
Ponguleti Srinivasa Reddy, a Congress chief, is the minister for Income, Housing, Info and Public Relations within the Telangana authorities.
(Apart from the headline, this story has not been edited by EDNBOX employees and is printed from a syndicated feed.)