Enforcement Directorate Raids in Rs 200 Crore Fraud Case

The Enforcement Directorate conducted raids in Chennai and Hyderabad as part of a money laundering investigation into Rs 200 crore bank fraud involving Sasikala, a close aide of late Tamil Nadu CM J Jayalalithaa. The searches target premises related to GRK Reddy, linked to the Marg group.

In a sweeping operation, the Enforcement Directorate launched raids on Thursday in Chennai and Hyderabad, probing an alleged Rs 200 crore bank fraud. The investigation includes a money laundering angle and targets benami assets allegedly linked to Sasikala, a confidante of the late Tamil Nadu Chief Minister J Jayalalithaa.

Officials disclosed that raids are underway at ten locations tied to GRK Reddy, accused of being a benami for Sasikala. These premises are associated with the Marg group, indicating a deeper nexus in the fraud case.

The Enforcement Directorate's action follows a First Information Report filed by the Central Bureau of Investigation, which details the alleged financial improprieties under scrutiny.