Three crore disproportionate assets unearthed

Hyderabad, Apr 26 (UNI) Sleuths of the Anti Corruption bureau (ACB) today arrested an Excise offical who possessed assets worth three crore, diproportionate to his known sources of income.

The ACB officials condcuted simultanious raids in the houses of Assistant Commissioner of Excise and Prohibition, Nizamabad P Nageswar Rao and his relative and unearthed the questionable assests, an ACB press release said.

The illegal properties included three flats and two duplex houses at Madhapur in Ranga Reddy wiorth Rs one crore, a two-storied building at Ongole worth Rs 15 lakh and investments in Puppal green power limited in Karnataka worth Rs 1.5 crore.

One car worth Rs 7 lakh, gold worth Rs 2 lakh, household articles worth Rs 4 lakh, insurance policies worth Rs 8.50 lakh and Rs 2 lakh bank balance were also recovered.

The ACB officials have arrested Mr Rao who would be produced before the Special Judge for ACB cases, Vijayawada.

UNI AP VV JS1853