The Enforcement Directorate (ED) is conducting search operations at five premises in Hyderabad, Telangana, in connection with the alleged transport scam involving the Andhra Pradesh State Beverages Corporation Limited.
According to ED officials, the accused persons allegedly caused a wrongful loss of more than 195 crore rupees to the government exchequer while deriving corresponding unlawful gains for themselves and their associates.
During the searches, officials recovered cash worth 8 lakh rupees, two expensive watches, premium vehicles, as well as incriminating documents and digital devices.
They said a total of five premises of persons allegedly involved in the case were searched. This included the premises of former civil supplies minister K Nageswara Rao and his son. The searches were conducted under the Prevention of Money Laundering Act.