Hyderabad, September 16: Anti Corruption Bureau officials on Thursday conducted raids on the residence of Hyderabad Agricultural Co-operative Association Business Manager and unearthed movable and immovable property worth around Rs 2.08 crore.
The ACB raids began after the agency was tipped off that the BM, identified as P Rajeshwar, has amassed wealth disproportionate to his known sources of income.
According to ACB sources, simultaneous searches were conducted at different places including his office, residence at Madhuranagar, Ramantapur in Hyderabad.
The raids revealed that Rajeshwar owned immovable assets three houses, twelve house plots in and around Hyderabad and 1.11 acres of agricultural land at Mahabubnagar district. The value of these immovable properties is estimated to be around Rs 60 lakh.
The searches also unearthed Rs 30,33,000 in cash, 19 gold biscuits and gold ornaments weighing about 3,849 grams worth about Rs 27 lakh apart from bank balances of Rs 22 lakh, fixed deposits worth Rs 47,48,000, investments in chit funds worth about Rs 7,15,500 in his and his family members’ names, one car worth Rs 3 lakh, one motorcycle worth over Rs 50,000 and house hold appliances worth about Rs 2.50 lakh, cumulatively calculated to be around Rs 1,48,18,000.
The searches are in progress. He was arrested and produced before Principal Special Judge for SPE and ACB Cases, Hyderabad.
The case is under investigation.
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ACB raids on ED officer, unearth Rs 1 cr assets
Ongole, Sept 16 (INN): Anti Corruption Bureau sleuths on Thursday conducted raids on the residence of Endowment Department official and unearthed immovable and movable properties worth around Rs one crore.
The ACB raids began after the agency was tipped off that the Endowment Department officer from Kandukur, identified as Ram Kumar, possesses property disproportionate to his known sources of income.
Simultaneous raids conducted on the residences of his relatives in Ulavapadu and Gudur. Raids revealed that Ram Kumar possess illegal property worth one crore.
The case is under investigation.
–INN