NEW DELHI/AMARAVATI: The Enforcement Directorate (ED) has attached properties worth Rs 441.63 crore belonging to several accused in the alleged multi-crore Andhra Pradesh liquor scam, the agency announced on Friday, March 7. The investigation has also uncovered a money trail of over Rs 1,048 crore collected as kickbacks from various distilleries.
The attached assets, seized under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 , include bank balances, fixed deposits, land parcels, and other immovable properties.
The Alleged Scam
The scam is alleged to have unfolded between 2019 and 2024, a period when the state was governed by the YSR Congress Party. The primary accused has been identified as Kessireddy Rajasekhara Reddy.
According to the ED’s statement, Reddy, along with co-accused Booneti Chanakya, Avinash Reddy, Kiran Kumar Reddy, Paila Dileep, and Saif Ahmed, allegedly manipulated the procurement process of the Andhra Pradesh State Beverages Corporation Limited.
This manipulation is said to have resulted in a massive loss of approximately Rs 3,500 crore to the state exchequer.
How the Scheme Worked
The ED’s investigation revealed a structured method to the alleged fraud.
| Element of Scheme | Details |
|---|---|
| Method | Manipulation of the state beverages corporation’s procurement process. |
| Kickbacks | A money trail of Rs 1,048.45 crore was traced, collected from several distilleries. |
| Special Purpose Vehicles | The accused established or acquired control over several distilleries, using them as “special purpose vehicles” to generate and launder the proceeds of crime. |
| Resulting Loss | The state exchequer suffered a loss of approximately Rs 3,500 crore. |
Assets Attached
The ED has attached properties of the primary accused, including Kessireddy Rajasekhara Reddy, Booneti Chanakya, and Donthireddy Vasudeva Reddy, as well as entities linked to them. The total value of the attached assets stands at Rs 441.63 crore.
The attached assets comprise:
- Bank balances
- Fixed deposits
- Land parcels
- Other immovable assets
What Happens Next?
The investigative agency stated that further investigation into the case is underway. This attachment of assets is a significant step in the money laundering case, aimed at depriving the accused of the alleged ill-gotten wealth.
