Rs 100 Crore Money Laundering Case: ED Searches Telangana Revenue Minister’s House

ED conducts raids at multiple premises believed to be connected with Telangana’s Revenue Minister P Srinivasa Reddy in an ongoing case of money laundering worth over Rs 100 crores, allegedly linked to a smuggling racket. The raids were conducted based on a complaint filed by the Directorate of Revenue Intelligence (DRI) against the son of the minister, Harsha Reddy, and the Raghav Group. As a result, five premises, including those in Hyderabad, were raided during the search process.

What Led To Raids?
Following a complaint by the DRI against Harsha Reddy, who is accused of involvement in a hawala and cryptocurrency racket worth over Rs 100 crore, the ED began its probe. Harsha had allegedly made expensive purchases, including seven luxury watches valued at Rs 7 crore. Those purchases are suspected to be financed through banned transactions. There is another suspect A. Naveen Kumar too.

The star witness is the son of the Telangana Revenue Minister-Harsha Reddy. Reddy is related to the Raghav Group, and his reported involvement with the hawala and cryptocurrency racket scandal has sent the alarm bells ringing. A. Naveen Kumar is under the scanner too as it is suspected that he is a part of the smuggling operation.

The Minister And Its Political Ramifications
P Srinivasa Reddy is the senior Congress leader and at present, he is the Revenue, Housing, Information, and Public Relations Minister in the state government of Telangana. Now the truth would come out in the due course of the raids with the pending investigation on the corruption and accountability of various elements of the state political scenario. When the raid results will arrive, it might expose the high-ranking minister’s inappropriate dealings and him with all those involved in such malpractices.

Future Consequences
The fact that high-profile people are involved in a smuggling and money laundering racket of more than Rs 100 crores has already garnered much publicity and media attention. All this probe culminates with an effect not only on the accusers but the entire political people in Telangana.