Begin typing your search above and press return to search.
Money Laundering:ED Attaches Multiple Properties Of TRS MP!
By: Tupaki Desk | 17 Oct 2022 11:38 AM GMT
In a big development, the Enforcement Directorate (ED) has attached multiple properties worth over Rs 50 crore in a money laundering case involving TRS MP. The case that sees the ruling party MP as the accused goes back a few years back which has been going on since 2019.
Media reports say that the properties which are attached are over Rs 80 crores worth and they belong to TRS MP Nama Nageshwar Rao and his family members. The properties include the Madhucon Projects Limited office in Hyderabad and other properties across Telugu states.
It has to be mentioned here that MP Nama Nageswara Rao is on the Enforcement Directorate (ED) radar after a complaint was registered against him by the National Highways Authority of India(NHAI) after his company did not finish the Ranchi Expressway and only half of the work was finished. In 2019, a case was filed against him.
It is said that the company owned by the MP took a loan of over Rs 1,000 crores and despite this, the work was not finished. There are strong allegations that the money taken as the loan was diverted into shell companies and the companies are run by TRS MP's sibling Nama Seethaiah.
A ruling party MP facing allegations of money laundering to the tune of hundreds of crores has raised many eyeballs and we have to wait and see how the MP and his family members would react to the latest development.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.
Media reports say that the properties which are attached are over Rs 80 crores worth and they belong to TRS MP Nama Nageshwar Rao and his family members. The properties include the Madhucon Projects Limited office in Hyderabad and other properties across Telugu states.
It has to be mentioned here that MP Nama Nageswara Rao is on the Enforcement Directorate (ED) radar after a complaint was registered against him by the National Highways Authority of India(NHAI) after his company did not finish the Ranchi Expressway and only half of the work was finished. In 2019, a case was filed against him.
It is said that the company owned by the MP took a loan of over Rs 1,000 crores and despite this, the work was not finished. There are strong allegations that the money taken as the loan was diverted into shell companies and the companies are run by TRS MP's sibling Nama Seethaiah.
A ruling party MP facing allegations of money laundering to the tune of hundreds of crores has raised many eyeballs and we have to wait and see how the MP and his family members would react to the latest development.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.
