Anti Corruption Bureau (ACB) sleuths on Tuesday conducted raids on the residence of Panchayat Raj chief engineer and unearthed property worth Rs. 1 crore.
According to ACB officials, simultaneous searches were conducted by ACB officials on Tuesday at the residence of R Venkateshwar Rao in Ameerpet, and at the houses of his friends and relatives.
The assets include 2 residential houses, 3 flats, 15 house plots, 5 acres of agricultural land and moveable property in the form of gold weighing about 1 kg, silver articles weighing about 2 kg, net cash of Rs. 9,73,000, bank balances of Rs. 8 lakh, and fixed deposits in various financial institutions worth Rs. 3,42,580.
Apart from these, LIC policies, subscriptions to chit funds, and household articles worth upto Rs. 1 crore were unearthed.
R Venkateshwar Rao has been arrested and will be produced before the special court for ACB cases, Hyderabad.