ED raids premises linked to Telangana minister and others in money laundering case

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.
Official sources stated that approximately five sites, including premises in Hyderabad, are currently under scrutiny, news agency PTI reported.
The investigation was prompted by a complaint filed by the Directorate of Revenue Intelligence (DRI) against Reddy’s son, Harsha Reddy, who is connected to the Raghav Group.

Harsha Reddy is alleged to have made extravagant purchases, including seven luxury watches valued at Rs 7 crore. 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.
Ponguleti Srinivasa Reddy, a prominent member of the Congress party, 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.
As the ED continues its efforts, the implications of these raids could reverberate through Telangana’s political corridors, potentially impacting the reputations and careers of those involved.