VIJAYAWADA: Sleuths of the Anti-Corruption Bureau (ACB) raided the residence and other places belonging to the managing director (MD) of Most Backward Classes Welfare Development (MBCWD) Corporation and unearthed disproportionate assets to the tune of Rs 4 crore (as per government value) on Monday.
The accused officer was identified as Billuri Nagabhushanam (58). The ACB officials conducted simultaneous raids across four different places in Vijayawada including his office in Poranki, his residences at Kavuri Hills in Hyderabad, and a farm house at Moinabad. During the inspection, officials identified several movable and immovable properties and also opened his bank lockers, where they reportedly found gold ornaments and documents pertaining to various properties.
Nagabhushanam owns five plots at prime localities in Hyderabad, a five-storey building, three cars and one motorcycle to his name. “Preliminary investigation revealed that the accused officer amassed disproportionate assets to his known income sources. The value of the properties stands at Rs 4.34 crore document value. Further investigation is under progress,” the ACB officials said.
Nagabhushanam is a native of Guntur and joined government service in 1996 as District Social Welfare Officer in the cadre of assistant director in Ongole. In 2012, he was promoted as the Deputy Director and promoted as a Joint Director in 2017. Currently, he is working as the managing director of MBCWD Corporation in Poranki near Vijayawada.
According to the press release issued by ACB, “All his assets including electronic gadgets, gold, silver ornaments, bank balances, household articles and cash amount to Rs 5.93 crore approximately. A case has been registered against the officer. He was produced before the special court for SPE and ACB cases in Vijayawada.”