Anti Corruption Bureau officials on Friday conducted simultaneous raids on the residence and office of Andhra Pradesh Industrial Infrastructure Corporation Limited Deputy Zonal manager (Shamshabad Zone) K Gopal Reddy. Assets worth Rs. 1.63 crore were unearthed.
A case of possessing assets disproportionate to his known sources of income was registered against the accused.
The raids began early on Friday morning at Marutinagar, Kothapet and Hyderabad. The raids yielded movable and immovable assets held in the names of Gopal Reddy and his family members.
These assets include 2 double-storeyed houses (one each at Marutinagar and LB Nagar) and one flat at Saroornagar, apart from 8 plots of land in and around Hyderabad city. These immovable assets alone are estimated to be worth around Rs. 1.33 crore.
Apart from the immovable properties, Rs. 96,000 in cash, 4 gold biscuits and gold ornaments weighing about 887 gm worth about Rs. 13 lakh, 2 kg of silver ornaments worth about Rs. 50,000, bank balances of Rs. 4.18 lakh, 2 cars worth Rs. 7.5 lakh, one motorcycle worth over Rs. 40,000 and household articles worth about Rs. 3.20 lakh were also found.