The Enforcement Directorate ED has attached 12 immovable and six movable properties of ex YSRCP MP MVV Satyanarayana. The property worth Rs 42 crore in immovable properties and Rs 2.7 crore movable properties was attached under the Prevention of Money Laundering Act.
If one goes into details, 12.5 acres of land was given to Hayagreeva Farms and Developers for a home for old people and orphans.
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The attached properties belong to MVV Builders, Hayagreeva Infratech Projects Limited, Gadde Brahmaji and his wife, Chilukuri Jagadeeswarudu and Chilukuru Radha Rani, Hayagreeva Projects and Varanasi Dileep.
The investigation started after an FIR was filed at Arilova police station in Vizag against Brahmaji, Satyanarayana and Gannamani Venkateswara Rao.
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The FIR claimed that the three accused forged signatures, faked documents and forced individuals to take 12.5 acres of land.
ED found that the land in Yendanda village in Vizag was allotted to Hayagreeva Farms and Developers in 2008. The land was registered for Rs 5.6 crore while the market value was Rs 30 crore.
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It was also found that MVV’s auditor Brahmaji became partners with Satyanarayana and Venkateswara Rao in Hayagreeva Farms and Developers in 2020. Between 2021-2022, the land was sold through 30 sale deeds.
The proceeds went to Satyanarayana, Brahmaji, Jagadeeswarudu and others. Jagadeeswarudu allegedly entered into agreements worth Rs 87.6 crore with eight indiduals between 2011-19.
All money was used for personal benefits. The attached property is worth Rs 44.75 crore. Further investigations are on.
