https://www.businesstoday.in/india/story/ed-raids-premises-linked-to-congress-minister-p-srinivasa-reddy-in-rs-100-crore-money-laundering-case-447767-2024-09-27

The Enforcement Directorate (ED) conducted raids on Friday at multiple locations associated with Telangana’s Revenue Minister P Srinivasa Reddy, as part of an ongoing investigation into a significant money laundering case involving an alleged smuggling operation exceeding Rs 100 crore.

Officials said that approximately five sites, including premises in Hyderabad, are currently being searched, PTI reported. 

The money laundering case stems from a Directorate of Revenue Intelligence (DRI) complaint against Reddy's son, Harsha Reddy of the Raghav Group, who is alleged to have purchased seven watches worth Rs 5 crore.

It is being alleged that the payments for these items are reportedly tied to a broader scheme involving hawala transactions and a cryptocurrency racket, both of which are believed to be worth Rs 100 crore. A man identified as A Naveen Kumar is also a focus of the ED’s enquiry, according to a India Today report.

Ponguleti Srinivasa Reddy, a prominent member of Congress, serves as the Telangana government’s minister for Revenue, Housing, Information, and Public Relations. The unfolding investigation raises serious questions about corruption and accountability in the state’s political landscape.