Andhra Pradesh

YSRCP MPs seek action under PMLA, FEMA against rebel colleague

YSR Congress MPs submitted a memorandum to Union Finance Minister Nirmala Sitaraman in New Delhi on Monday requesting her to register a case against Narasapuram MP K. Raghu Ramakrishna Raju and TV-5 news channel chairman B.R. Naidu under the Prevention of Money Laundering Act, 2002 and Foreign Exchange Management Act, 1999 for an alleged transfer of 1 million Euros (roughly ₹11 crore) through a ‘hawala’ transaction. The delegation of MPs was led by V. Vijaya Sai Reddy.

The MPs mentioned that the A.P. police found prima facie evidence of a money laundering transaction. “During the course of the investigation, the CID conducted a forensic analysis of the text messages received and sent by the accused, which revealed the illegal transaction. The conservations contained details of the transfer of 1 million Euros from an account in a well-known American financial services company,” the MPs informed Ms. Sitharaman. The CID has framed charges against the MP and Mr. Naidu under various sections of the Indian Penal Code.

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Printable version | Sep 17, 2021 11:27:32 AM |

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