ED raids Telangana minister Ponguleti S Reddy and son over Hawala transactions
THE JHARKHAND STORY DESK Hyderabad, Sept 27: The Enforcement Directorate conducted raids on Friday at the home of Telangana’s Minister of…
Image: Hyderabad Mail
THE JHARKHAND STORY DESK
Hyderabad, Sept 27: The Enforcement Directorate conducted raids on Friday at the home of Telangana’s Minister of Information and Public Relations, Ponguleti Srinivasa Reddy, as well as locations linked to his son Harsha Reddy, a promoter of the Raghav Group, over alleged involvement in Hawala transactions.
The raids targeted a total of five locations connected to the minister and his son.
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The ED is probing a case against Harsha Reddy, who is accused of buying seven watches worth Rs. 5 crores through a Crypto and Hawala smuggling operation involving over Rs. 100 crores.
The investigations reveal that Harsha Reddy allegedly obtained the watches from Muhammed Faherdeen Mubeen, an Indian luxury watch dealer based in Hong Kong, via an intermediary named Alokam Naveen Kumar. Kumar has admitted to facilitating the purchase through cryptocurrency and Hawala transactions.
