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Hyderabad, The ACB sleuths today arrested three “benamis” of HMDA director Purushotham Reddy after detecting that Purushotham Reddy transferred assets worth Rs 30 crore on Yadava Reddy’s name.
The ACB officials said they found that Purushotham Reddy had invested Rs 30 crore in Sai Harihara Real Estate Company and Purushotham Reddy’s brother-in-law Srinivas Reddy transferred the amount. The ACB sleuths also detected that Purushotham Reddy invested another Rs 30 crore in his son-in-law Nishanth Reddy’s company. The ACB officials produced Yadava Reddy, Nishanth Reddy and Srinivas Reddy in the Court today.
It may be mentioned here that ACB officials raided Purushotham Reddy’s houses last week following the allegations that he had amassed huge assets disproportionate to his known sources of income. Purushotham Reddy was at large since the ACB raids on his residences.
