Anti Corruption Bureau officials unearth property worth Rs. 2.08 crores from HACA manager.
Anti Corruption Bureau officials, on Thursday, conducted raids at the residence of a Hyderabad Agricultural Co-operative Association (HACA) Business Manager, and unearthed movable and immovable property worth around Rs. 2.08 crores.
The ACB raids began after the agency was tipped off that the BM, identified as P Rajeshwar, had amassed wealth disproportionate to his known sources of income.
According to ACB sources, simultaneous searches were conducted at different places, including his office, and his residences at Madhuranagar, and Ramanthapur in Hyderabad.
The raids revealed that Rajeshwar owned immovable assets consisting of 3 houses, 12 house plots in and around Hyderabad, and 1.11 acres of agricultural land in Mahabubnagar district. The value of these immovable properties is estimated to be around Rs. 60 lakhs.
The searches also unearthed Rs. 30,33,000 in cash, 19 gold biscuits and, gold ornaments weighing about 3,849 grams and worth Rs. 27 lakh, apart from bank balances of Rs. 22 lakhs, fixed deposits worth Rs.47,48,000, investments in chit funds worth around Rs. 7,15,500 in his and his family members' names, one car worth Rs. 3 lakhs, 1 motorcycle worth over Rs. 50,000 and household appliances worth about Rs. 2.50 lakhs, cumulatively calculated to be around Rs. 1,48,18,000.
Rajeshwar was arrested and produced before Principal Special Judge for SPE and ACB Cases, Hyderabad.
The case is under investigation.
Courtesy: INN