ED Raids Unravel Sasikala's Alleged Benami Connections in Rs 200 Crore Fraud
The Enforcement Directorate conducted searches in Chennai and Hyderabad in relation to a Rs 200 crore bank fraud and benami assets probe against Sasikala, close aide of late Tamil Nadu CM Jayalalithaa. Raids focused on premises linked to GRK Reddy, suspected to be Sasikala's benami.
- Country:
- India
The Enforcement Directorate (ED) launched searches in Chennai and Hyderabad as part of an investigation into an alleged Rs 200 crore bank fraud entwined with benami assets linked to Sasikala, a former aide of the late Tamil Nadu Chief Minister J Jayalalithaa.
Sources reveal that at least ten premises connected to GRK Reddy of the Marg group, believed to be a benami agent for Sasikala, were targeted under the Prevention of Money Laundering Act (PMLA). The probe traces back to a Rs 200 crore fraud case involving Canara Bank, with the CBI having previously filed an FIR.
While Sasikala is not named in the CBI's FIR, the Income-Tax Department had earlier charged Reddy as her benamidar in the Marg group's assets. 'Benami' properties are those where the actual beneficiary's name is concealed. J Jayalalithaa passed away in December 2016 at 68.
(With inputs from agencies.)
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- ED
- Chennai
- Hyderabad
- Sasikala
- J Jayalalithaa
- benami
- GRK Reddy
- Marg group
- Canara Bank
- fraud
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