Property Worth 200 Crores Allegedly Amassed By Two Hyderabad Municpal Offcials

Hyderabad:  It was a two-day job for 23 teams of Telangana's Anti-Corruption Bureau. What they recovered from two municipal corporation officials will take days to catalogue. Officials say the gold and gemstones recovered can fill a jeweller's shop, the properties spread across 15 locations in Telangana and Andhra Pradesh. Together, it could be worth at least 200 crores.

The senior of the two officials, GV Raghurami Reddy is about to retire. The other, 53-year-old NV Sivaprasad, is said to be his cousin, who was working as junior technical officer at the Vijayawada Municipal Corporation. Both of them have been arrested under the anti-corruption laws.

The properties in their possession were said to be in at least 15 locations in Mangalagiri, Vijayawada, Gannavaram, Visakhapatnam, Hyderabad, Chittoor. There is also a hotel in Maharashtra's Shirdi. The properties are in the names of the officials and their families, including Mr Sivaprasad's wife Gayatri. There were also some fake beneficiaries.

There were documents showing several plots of land, residential flats, convention centres, and a lodging house.

Around 11 kilos of gold, precious stones worth Rs 4 crore, and Rs 43 lakh in cash was reportedly found in Sivaprasad's possession.

Mr Reddy worked as chief city planner in Hyderabad in 2009 and reportedly amassed wealth while sanctioning permission for buildings. He has also reportedly worked at Anantpur, Nellore and Rajahmundry. He also worked with the Greater Visakhapatnam Municipal Corporation that is seen as a commercial and prosperous port city. He is said to have established five companies in the names of his associates or fake entities.

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