ED Books PMLA Case against Suspended DSP Bheem Reddy over Disproportionate Assets
The central agency's probe follows an ongoing investigation into allegations that Bheem Reddy amassed Rs.150 crore by market value in disproportionate assets through corrupt practices
Hyderabad: The Directorate of Enforcement (ED) has registered a case under the Prevention of Money-Laundering Act (PMLA) against suspended Deputy Superintendent of Police (DSP) Sankireddy Bheem Reddy who had been arrested by the ACB following the discovery of unaccounted-for disproportionate assets.
The central agency's probe follows an ongoing investigation into allegations that Bheem Reddy amassed ₹150 crore by market value in disproportionate assets through corrupt practices. ED officials were said to be tracking multiple real estate properties allegedly purchased using proceeds of corruption.
The agency has widened its net to scan financial footprints linked to Bheem Reddy’s family members, relatives, close friends, and suspected benamidars. A special team was questioning property sellers and coordinating with various banking institutions to map out the transaction trails and verify the actual sources of funds.
The income-tax (IT) department has registered a parallel case against the suspended police officer. An ED official stated that once the current phase of financial tracing was complete, the agency will initiate action under the PMLA.
ED teams have collected details of Bheem Reddy’s properties in Manikonda, Gachibowli, Tellapur, Patancheru, Nagolu, Mominpet, Zaheerabad Bengaluru and other places. Sources said the ED found that most of his properties were registered in the name of his benami associates.
