Hyderabad: Enforcement Directorate (ED) raids in Hyderabad and Mumbai have exposed a staggering hoard of unaccounted wealth, with over ₹9 crore in cash and ₹23 crore worth of gold recovered from the residence of Y.S. Reddy, a Hyderabad native serving as a deputy director in Mumbai’s town planning department.
The raids, conducted on Thursday, May 15, shocked officials after stacks of cash and heaps of jewellery were found tucked away in his residence. Sources said Reddy went blank when confronted with the evidence.
The ED has booked Reddy on charges of granting unauthorised approvals to 41 buildings in collusion with real estate developers. Acting on the allegations, officials launched simultaneous searches across 12 locations in Mumbai, Hyderabad, and other cities linked to the case.
In addition to the cash and gold, the ED reportedly seized valuable documents connected to high-value properties and suspicious transactions.
While the department has not yet made a formal statement, internal sources confirmed that the assets recovered during the searches are now under verification. The probe is ongoing, and more explosive revelations are expected as investigators scrutinise the documents.
Full details of the case are yet to emerge.
