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HMDA Director On The Run, Three Benamis In Custody

The ACB today arrested three "benamis" of Purushotham Reddy after detecting that he had transferred assets worth Rs 30 crores to a Yadava Reddy.
Hyderabad | 9th February 2018
The ACB today arrested three "benamis" of HMDA director Purushotham Reddy after detecting that he had transferred assets worth Rs 30 crores to the name of a Yadava Reddy.

The ACB officials said that they had found that Reddy had invested Rs 30 crores in a company named Sai Harihara Real Estate, and that Reddy's brother-in-law Srinivas Reddy had transferred the amount. The officials also detected that Purushotham Reddy had invested another Rs 30 crores in his son-in-law Nishanth Reddy's company.

The officials produced Yadava Reddy, Nishanth Reddy and Srinivas Reddy in court today.

For those who have come in new, ACB officials had raided Purushotham Reddy's houses last week following the allegations that he had amassed huge assets disproportionate to his known sources of income. Reddy has been at large since the raids.
filed in:  Crime, HMDA, Hyderabad Crime, Corruption, Anti-Corruption Bureau, Arrests
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