Alprazolam Money Laundering Case: ED Attaches Properties worth ₹4.79 Crore

Hyderabad: The Directorate of Enforcement (ED) attached immovable properties worth ₹4.79 crore in connection with a money laundering investigation related to illegal manufacturing and sale of alprazolam, a psychotropic substance.

According to a statement, the properties belong to Girmagouni Sudheer, Bishweswar Singh, Rajeshwar Sharma Joshi, Bhavanigari Prabhuvara Goud, Gajjela Sreesailam Goud and others and were situated in various districts of Telangana and Andhra Pradesh.

The agency took up investigation based on the FIR registered by the Gummadidala police of Sangareddy district for involvement in illegal manufacturing, sale and purchase of alprazolam and examined the money-laundering aspects of the case.

The ED’s probe revealed that Sudheer had been involved in the business of buying and selling alprazolam since 2014 on commission basis with the help of his brother Prabhuvara Goud and brother-in-law Sreesailam Goud. They used to sell alprazolam to toddy vendors, who used to mix it in toddy to improve its potency. Later, he expanded this illegal business with the help of Bishweswar Singh.

"In 2023, Sudheer Goud and Bishweswar Singh purchased the factory of Sai Priya Chemicals in Bacharam, Abdullapurmet, in partnership with Rajeshwar Sharma Joshi and renamed it as Stanchem Chemicals and started manufacturing alprazolam from the premises. The sale proceeds of alprazolam were shared by them in proportion to their investment in the factory," the ED said.

The ED said its investigation revealed that proceeds of crime out of illegal manufacturing and sale of alprazolam were received by the accused in cash and was either utilised for making direct cash payments to acquire immovable properties or for being depositsed in banks and used to purchase immovable properties.

The ED had earlier conducted searches in the case at seven premises which resulted in the seizure of documents, ₹5 lakh in Indian currency, $834 and Euro 1,910, a 100-gram gold bullion and 17 silver bars weighing 2,996.231gms.