ED Raids YS Reddy’s House: Rs. 9 Cr Worth Of Notes, Gold Seized
Hyderabad, May 16 (Maxim News): A big fish was caught in the ED raids. When the house was searched, the mind went blank. A stock of Rs. 9 crore worth of notes was seized at the house. And that’s it. The authorities seized gold worth another Rs. 10 crore. So who is YS Reddy, what is he doing. Let’s find out the reasons behind the ED raid.
Y.S. Reddy, a Hyderabad native, is working as the Deputy Director of Town planning in Mumbai. However, there are allegations that he has given unauthorized permissions for 41 buildings in collusion with builders. To this extent, the ED has registered a case against YS Reddy and started an investigation. As part of this, searches were conducted at his house on Thursday (May 15)
ED officials conducted simultaneous searches at 12 locations in Mumbai and Hyderabad. It is learnt that over Rs. 9 crore in cash and gold ornaments worth Rs. 23 crore were seized in these searches.
It is learnt that the officials were surprised to see bundles of notes and piles of jewellery. It is learnt that the officials also found documents worth crores. Meanwhile, the full details of these raids are yet to be known. (Maxim News)
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