Visakhapatnam: ED conducts raids against ex-YSRCP MP MVV Satyanarayana in money laundering case

Visahapatnam The Enforcement Directorate on Saturday raided the premises of former YSRCP MP and Telugu film producer M V V Satyanarayana and some others in Visakhapatnam as part of a money laundering investigation, official sources said.

At least five locations, including in Visakhapatnam, were being raided by the officials of the federal probe agency, they said.

The money laundering case stems from a state police FIR filed against Satyanarayana and others in a case linked to alleged grabbing of government land.

Satyanarayana lost the 2024 Lok Sabha polls from Vishakhapatnam seat, which he contested on a YSRCP ticket. He has produced a number of Telugu films.

These searches were based on an Enforcement Case Information Report (ECIR) filed following an FIR lodged by Arilova police under Visakhapatnam Police Commissionerate.

The case originated from a complaint filed by Ch Jagadeeswarudu, Managing Director of Hayagreeva Constructions. It is alleged that Satyanarayana and others attempted to grab 12.5 acres of land allotted to him by the government forconstructing an old age home, orphanage, and houses for the elderly, using forged documents.

The complainant in the police case is Ch Jagadeeswarudu who said he and his wife were promoters of Haigreeva Infratech Projects Ltd., a company which was registered in April 2006. He said they were given 12.51 cents of land in Yendada village by the Andhra Pradesh government in 2008 to build homes for senior citizens and orphans.

Jagadeeswarudu told police that he engaged an auditor named G Venkateswara Rao, who in turn introduced him to Satyanarayana and a man named Gadde Brahmaji for developing the government-mandated project on the said land.

An MoU was signed between them in 2020 but Jagadeeswarudu alleged that his and his wife's signatures were "fabricated" by the accused and they had made them sign blank papers leading to "misappropriation" of the documents. He told police this was a "criminal conspiracy" to "grab" his land and the accused had "threatened" them with dire consequences. The ED is looking at these allegations and hence the searches are being conducted, the sources said.