Siemens Project Scam: Fresh Assets Seized Amidst Political Turmoil

Fresh assets worth over Rs 23 crore have been attached under the anti-money laundering law in the Andhra Pradesh Skill Development Corporation Siemens Project case. Former Chief Minister Chandrababu Naidu was arrested in connection with this Rs 371-crore scam, involving misappropriated funds and diversion by key individuals.

The Enforcement Directorate has attached fresh assets worth over Rs 23 crore under the anti-money laundering law in the Andhra Pradesh State Skill Development Corporation Siemens Project case.

The case saw the arrest of former Andhra Pradesh Chief Minister Chandrababu Naidu, whose alleged involvement in the Rs 371-crore scam led to his detainment by the state's CID in September last year. His role in the diversion of government funds during his third term as CM raised serious allegations.

The investigation, driven by a CID FIR, implicated Designtech Systems Private Limited, revealing how top executives like Vikas Vinayak Khanvelkar and others misused funds through bogus transactions. The ED has proactively attached bank deposits, shares, and properties as the investigation proceeds.

(With inputs from agencies.)