Hyderabad, Sep 18 (IANS) The Enforcement Directorate (ED) conducted searches at multiple locations in the twin cities of Hyderabad and Secunderabad on Thursday.
The ED officials were carrying out searches at the premises linked to some businessmen as part of the investigation into money laundering allegations.
The central agency conducted searches at a couple of villas in Wellington Enclave in West Maredpally of Secunderabad. Searches were also on at some premises in Mahindra Hills.
This is said to be part of nationwide searches by the ED in connection with money-laundering intermediaries allegedly involved in the Andhra Pradesh liquor scam.
The intermediaries are alleged to have played a key role in routing nearly Rs 3,500 crore through benami firms, shell entities and hawala networks.
The Special Investigation Team (SIT) probing the alleged liquor scam that took place during the previous YSR Congress Party rule filed its second supplementary charge sheet before the ACB Court in Vijayawada on Monday.
The SIT outlined the alleged involvement of Chevireddy Bhaskar Reddy, Venkatesh Naidu, Balaji Kumar Yadav, and Naveen Krishna, stating that illicit proceeds were laundered through them. The accused allegedly acted as conduits, diverting the funds into shell companies and benami accounts.
The SIT has named 48 persons in the case, of whom 12 have been arrested. Four of them were recently granted bail by the ACB Court.
Meanwhile, the SIT will be producing the accused, including YSRCP MP Midhun Reddy, before the ACB Court to request a further extension of their judicial custody.
Last month, the SIT filed the first supplementary charge sheet, highlighting the alleged role played by then Chief Minister Y.S. Jagan Mohan Reddy.
The SIT has not named Jagan Mohan Reddy as an accused in the case, but alleged that he took decisions to modify the excise policy to use the liquor business for illegally amassing wealth.
It is alleged that low-profile individuals, including office employees, were used to launder kickbacks from liquor companies. Employees, including office boys working in the companies owned by the accused, were used as couriers to deposit illicit cash into a network of bank accounts linked to the syndicate.
–IANS
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