Sleuths from the Central Investigation Unit of Anti-Corruption Bureau (ACB) raided the houses and properties of Saragadam Venkata Rao, Assistant Motor Vehicle Inspector (MVI) working at Deputy Transport Commissioner Office here on Saturday for allegedly amassing wealth disproportionate to his known sources of income.
According to sources, the value of the properties and documents will be around Rs. 3 crore, while the market value of the same at present is estimated to be between Rs. 30 crore and Rs. 40 crore.
Raids were conducted simultaneously at his residence in Murali Nagar, houses of his relatives, close associates and friends at Gajuwaka, Akkayyapalem and at Adduru, Aripaka and Vijayaramarajupeta in the district. During the raids, the officials seized a house plot in the name of Venkata Rao, one in the name of his mother-in-law, four in the name of his sister. One G+1 (1,000 sft) building in the name of his mother at Aripaka, two G+2 buildings (one 2,400 sft in the name his daughter and 3,000 sft in the name of his mother-in-law) at Sabbavaram mandal were unearthed. About 5.60 acres of agricultural land in the name of his wife, two sons and daughter was also found. Almost all agricultural lands were procured at Bangarammapalem, Aripaka areas in Sabbavaram mandal from where he hails.
Apart from these, the CIU team also found Rs. 25-lakh bank balance, Rs. 70 lakh in cash at his house, 500 gm gold, 3 kg silver, LIC policies policies worth Rs. 10 lakh, three four-wheelers and two two-wheelers. The CIU team in a release said that five lockers in various banks at Murali Nagar, Akkayapalem, Marripalem, Urvasi junction in the city need to be opened.
Venkata Rao is a native of Peda Yathapalem in Sabbavaram mandal of Visakhapatnam district. He joined the RTA as Assistant Motor Vehicle Inspector (MVI) in 1994 and worked at various places of Srikakulam, Vizianagaram and Visakhapatnam districts.
The officials said that this was the second Disproportionate Assets case against him. In 2003, a DA case was registered against him.
Source: Read Full Article