The Enforcement Directorate raided 37 locations across India, including Congress MLA Subba Reddy's residence in Bengaluru, in connection with an overseas investment fraud involving links to Malaysia, Hong Kong, and Germany.
Bengaluru: The Enforcement Directorate (ED) conducted a series of raids across India on Thursday in connection with an alleged overseas investment fraud. Among the 37 locations searched were five in Bengaluru, including the residence of Congress MLA Subba Reddy.
MLA’s home and sister firms under scanner
ED officials arrived in three Innova cars and searched Subba Reddy’s residence located in MSR Layout, Marathahalli. The team also raided sister companies associated with the MLA. One of the key locations under investigation was Bhagini Hospitality Private Limited, a firm owned by Subba Reddy and situated near his residence.
Tight security deployed during raids
To prevent any untoward incidents, local police were deployed around the MLA's residence during the raid. The searches reportedly began early in the day and continued for several hours.
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According to ED officials, the raids are linked to suspicious financial transactions connected to Malaysia, Hong Kong, and Germany. Investigators stated that relevant documents have been seized and statements are being recorded from individuals involved.
MLA cooperating with officials, probe continues
Sources confirmed that Subba Reddy is cooperating with the ED team and assisting in providing required documents and information. The investigation is ongoing, with further details expected as officials review the seized materials.
