CID raids house of ex-APCO chief, seizes Rs 1 cr cash, 3 kg gold, silver, property documents

CID DSP Subbaraju informed that their team conducted the raid throughout the day and seized almost 3 kilograms of gold, almost 2 kilograms of silver, more than Rs 1 crore cash, and documents of many properties.

KADAPA: Andhra Pradesh Criminal Investigation Department (CID) sleuths raided the house of Gujjala Srinivasulu, former chairman of Andhra Pradesh State Handloom Weavers Cooperative Society (APCO), at Khajipet town in Kadapa district on Friday (August 21).

ANI quoted CID DSP Subbaraju saying that their team conducted the raid throughout the day and seized almost 3 kilograms of gold, almost 2 kilograms of silver, more than Rs 1 crore cash, and documents of many properties.

He said old currency of face value Rs 10 lakh were also recovered from Srinivasulu's house. 

Andhra Pradesh: CID raided the residence of Gujjala Srinivasulu, former chairman of APCO (State Handloom Weavers Cooperative Society) in Khajipet, yesterday. 3 kgs of gold, 2 kgs of silver, more than Rs 1 crore of cash & property documents have been seized from his residence. pic.twitter.com/ASUe02lA4C

— ANI (@ANI) August 22, 2020

The CID sleuths have been investigating the case of irregularities in APCO since the Telugu Desam Party (TDP) regime.

Subbaraju further informed that the team carried out raids at Srinivasulu's residence, his Dhamkhana Palle-based office, residence of his employees, after taking permission from the court. The official said that the former APCO chairman could not hide anything due to sudden raids by the CID slueths at his properties simultaneously. 

He said they will investigate why such a large amount of cash, gold and silver were kept in the house.