ACB unearths assets worth Rs 1.76 crore

Hyderabad, Nov 22 (UNI) ACB officials today unearthed assets worth Rs 1.76 crore following simultaneous raids at office and house of Major and Medium Projects (Investigation) Executive Engineer Anthi Reddy Venkat Reddy in the city and Veeramraju Palli of Balmoor Mandal in Mahabubnagar District.

The accused had purchased a house in New Santoshnagar Colony, Hyderabad and extended its construction. He had also purchased 16 sites in Ghatkesar, Saroornagar, Maheswaram, Serilingampalli, Moinabad, Champapet, Rajendranagar and in Jana Chaitanya Housing Private Limited, Hyderabad and two flats at Ghatkesar and Kondapur village of Serilingampalli Mandal in his name, and in the names of his wife, his son and his daughter-in-law, all worth Rs 1.41 crore as per documentary value. Market value of the assets would be approximately Rs 2.5 crore, a press release here said.

They also seized moveable properties, including 11 bank accounts and three lockers, in the name of accused and his family members with total bank balances of over Rs 5 lakhs, one kg gold jewellery worth Rs 4 lakhs, household articles worth Rs 2 lakhs, Insurance policies worth Rs. 2 lakhs, net cash of Rs 60,000, promissory Notes worth Rs 13 lakhs, five private chits worth Rs 5 lakhs with subscription of Rs 25,000 per month, fixed deposits worth Rs 2 lakhs and two LIC policies worth Rs 2 lakhs.

The case is under investigation.

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