Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
Hyderabad: The Enforcement Directorate is conducting searches at 20 locations across Hyderabad, Andhra Pradesh, Tamil Nadu, Karnataka, Delhi NCR in connection with the alleged Rs. 3,500 Crore AP liquor scam.
The searches are targeting money laundering intermediaries, who allegedly played a significant role in diverting Rs 3,500 crore through benami firms, hawala networks and shell entities.
The ED has reportedly questioned the main accused, Raj Kasireddy, who is currently in jail and has recorded a statement from distillery owners, who are said to be linked to the scam.
Earlier, the state Special Investigation Team (SIT) filed a supplementary chargesheet against high profile politicians including former CM YS Jagan Mohan Reddy, who is not an accused in the case.
AP police SIT alleged that 16 liquor companies paid Rs 1,677 crore in bribes for supply orders from AP State Beverages Corporation Limited (APSBCL) between 2019 and 2024. In return, these companies secured contracts worth Rs 10,385 crore.
SIT data showed that during the tenure of the YSRCP government, APSBCL issued supply orders worth Rs 23,000 crore and 90 percent of them going to 40 of the 111 registered companies.
After APSBCL released payments, distillery owners diverted the money in the name of raw material purchases and brand promotions. However, the money was allegedly withdrawn in cash and was given as kickbacks. The ED acting on SIT’s predicate offence, invoked PMLA and summoned accused companies and individuals for questioning.
