The agency is probing whether the assets are disproportionate to known sources of the income of Karri Bhaskara Rao.
The agency is probing whether the assets are disproportionate to known sources of the income of Karri Bhaskara Rao (56).
He was arrested after teams of Central Investigation Unit (CIU) of ACB conducted simultaneous raids at four places, including his residence and office here.
“The raids were conducted at Rao’s apartment at Kirlampudi and at two other flats in the same apartment complex belonging to his sister and his friend,” said CIU DSP SVV Prasada Rao.
The agency seized documents valuing Mr Rao’s assets to the tune of Rs. 1.63 crore. However, the market value of the properties is estimated at Rs. 16-Rs. 20 crore, he said.
“The documents mention two flats at Kirlampudi Layout and three house sites in Vizag city, one plot at Rajahmundry in East Godavari district, two four-wheelers, two motorbikes, Rs. 6 lakh cash in bank and in hand, gold to the tune of 1.25 kg, FDs worth Rs. 2.11 lakh and household articles to the tune of Rs. 10 lakh,” the DSP said.
He will be produced before ACB court today.
