Hyderabad:
The Enforcement Directorate on Friday raided multiple premises linked to Telangana Revenue Minister P Srinivasa Reddy and some others as part of a money laundering case related to alleged smuggling of more than Rs 100 crore, official sources said.
As many as five premises in the state, including Hyderabad, are being searched, they said.
The money laundering case stems from a complaint by the Directorate of Revenue Intelligence (DRI) against Reddy’s son, Harsha Reddy of the Raghav Group, who allegedly bought seven watches worth Rs 7 crore.
The payments to them are related to an alleged hawala and cryptocurrency racket worth Rs 100 crore and a person named A Naveen Kumar is under the scanner of the ED.
Pongulethi Srinivasa Reddy, a Congress leader, is the Minister of Revenue, Housing, Information and Public Relations in the Telangana government.
(Except for the headline, this story was not edited by NDTV staff and was published by a syndicated channel.)