HYDERABAD: The Enforcement Directorate (ED) Hyderabad zonal unit conducted raids on Mahadev Jewellers, Capso Legal Services offices, and the residence of the companies’ MD and directors in Secunderabad over alleged money laundering linked to the Andhra Pradesh liquor scam.
Officials searched three locations in Hyderabad on Thursday morning. Sources said that large sums of cash were diverted to purchase gold and land through multiple firms.
The ED registered an ECIR based on the Andhra Pradesh SIT report, suspecting that Raj Kasireddy diverted around Rs 3,500 crore into firms across India.