Hyderabad. The Enforcement Directorate (ED) on Friday raided the premises of Telangana government minister Ponguleti Srinivas Reddy. Raids are being conducted regarding money laundering. This action is being taken by ED in a case related to alleged violation of custom duty. The ED investigation was initiated by the Chennai office of the Customs Department in connection with the purchase of two luxury watches by the minister’s son P. Harsha Reddy. These watches were worth Rs 1.7 crore and the Customs Department had issued summons to Harsha Reddy in this case. Investigation by the Customs Department has revealed that these expensive watches were seized by a dealer when they were returning from Singapore.
The watches seized include a Patek Philippe 5740 and a Breguet 2759. The ED investigation has also revealed that cryptocurrency and hawala were used to purchase these watches. This information was found in the ED investigation. Meanwhile, no one has been allowed inside or outside the house during the raid being conducted by ED. The main door has also been closed. There is a gathering of media personnel outside the door. No information has been shared yet by ED officials regarding the raid, nor has there been any reaction from the minister or his family members.
There is also a possibility of intensification of political turmoil after the ED raid on the premises of Minister Ponguleti Srinivas Reddy. Congress has been continuously accusing the Central Government of misuse of ED-CBI. Before the Lok Sabha elections 2024, the party had even accused ED CBI of collecting donations for BJP. Then the PM had also reminded Congress of its history and said that these agencies were puppets in your hands, then why did you lose the elections.