ED raids Telangana Minister Srinivasa Reddy’s premises in money laundering case

P Srinivasa Reddy, the Telangana Revenue Minister, is in the spotlight after the Enforcement Directorate on Friday searched multiple premises associated with the Congress leader in money laundering case. The Revenue Minister faces accusations related to an alleged smuggling racket of more than ₹100 crore, according to officials.
About five premises in the state, including Hyderabad, are being searched, PTI reported citing officials’ statement. The ED raid on September 27 comes after Directorate of Revenue Intelligence (DRI) complaint was raised against P Srinivasa Reddy’s son Harsha Reddy. The charges were levied after Harsha Reddy of the Raghav Group purportedly purchased seven watches worth ₹5 crore.
It is important to note that the payments for these are related to an alleged hawala and crypto currency racket worth ₹100 crore, PTI reported. An individual identified A Naveen Kumar is under ED’s scanner in connection with the case.
Ponguleti Srinivasa Reddy is currently serving as the Minister for Revenue, Housing, Information and Public Relations in the Telangana government since December 7, 2023.
This development comes two days after the Revenue Minister in a post on X (formerly Twitter) said that 604 bicycles were distributed by PSR Trust to girls studying in classes 8 to 10 on September 24. He asserted that students should strive to fulfill the wishes of their parents.
On Tuesday, P Srinivasa Reddy laid the foundation stone for the construction of additional classrooms in Zilla Parishad High School which encompasses measures for three phase power supply needed by the school.
In another latest development linked to the federal agency, the ED said it approached a court in Shimla on Thursday to declare the Australian-based wife and son of the promoter of a Himachal Pradesh private university as fugitive economic offenders in a case linked with sale of “fake” degrees.
The Enforcement Directorate filed an application under the Fugitive Economic Offenders Act (FEOA) of 2018 before a special Prevention of Money Laundering Act (PMLA) court in Shimla in relation with the case associated with promoter of Solan-based Manav Bharti University.
(With PTI inputs)