Hyderabad: Enforcement Directorate (ED) officials that city-based businessman Buchi Reddy had direct linked with casino case Chikoti Praveen Kumar and Dasari Madhav Reddy who allegedly indulged in hawala transactions.
The ED asked Buchi Reddy to appear along with minister Talasani Srinivas Yadav’s personnel assistant Harish. Buchi Reddy appeared before the agency officials and explained his business activities.
The agency officials allegedly grilled him on the money transactions and asked Buchi Reddy to submit bank account statements for the past six years. Buchi Reddy submitted printouts, following which agency officials allegedly found irregularities in money transfers and questioned him.
Buchi Reddy told mediapersons that he had a five per cent business share in the casino event which was organised in Nepal. “There were no hawala transactions and the money deposits and prize money have given in India and there were no violations under the FEMA,” he said.
Earlier, the ED had raided the residences of Praveen Kumar and Madhava Reddy. Buchi Reddy’s links were revealed from the bank account statements of Madhava Reddy.
…
