Hyderabad: The Enforcement Directorate (ED) is conducting searches at the residence of Minister Ponguleti Srinivasa Reddy in connection with the luxury watch scandal. The raids are being conducted at multiple locations, including his house, farmhouse, and five other areas.
The ED’s action follows customs officials issuing notices to the minister’s son, Harsha Reddy, earlier this month. Expensive watches were found to have arrived at Chennai port from Singapore. Customs officials alleged that Harsha Reddy purchased the watches from Faherdeen Mubeen through the intermediary of Alokam Naveen Kumar.
During their investigation, customs officials discovered that Alokam Naveen Kumar had smuggled goods worth Rs. 100 crores. The ED has registered another case, including charges of money laundering, and has taken up the investigation.
The raids on Minister Ponguleti Srinivasa Reddy’s residence are part of the ED’s ongoing probe into the luxury watch scandal. The agency is investigating the source of funds used to purchase the watches and whether any illegal activities were involved.
