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The Hindu
The Hindu
National
The Hindu Bureau

ED freezes assets worth ₹45 crore

ED Chennai Mumbai

The Enforcement Directorate (ED) has conducted searches at more than 14 locations in Chennai and Mumbai and frozen movable properties worth over ₹45 crore in connection with a money laundering case.

The ED initiated investigations based on a First Information Report registered by the Entrustment Document Fraud wing of the Central Crime Branch (Chennai) against one Ram Prasath Reddy and others. As alleged by Gateway Office Parks Private Limited, ₹129 crore was siphoned off.

The agency alleged that Reddy orchestrated the misappropriation of ₹129 crore through his family-owned entities and that the funds were diverted on the pretext of payments for the supply of goods and services.

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