ACB seizes assets worth ₹80 cr from chief engineer in Andhra Pradesh

The Andhra Pradesh Anti-corruption Bureau (ACB) on Saturday unearthed unaccounted wealth and assets estimated to be worth ₹80 crore from the properties of state roads and buildings department’s engineer-in-chief and his family members.

The book value of the seized assets is placed at ₹8 crore but official estimates suggest that their market value could be over ₹80 crore.

Five lockers belonging to the official were yet to be opened.

The ACB raids began on Saturday morning and were continuing at over 20 places across Andhra Pradesh, Telangana and Karnataka till evening.

In Hyderabad alone, searches were carried out at 11 places owned by engineer-in-chief M Gangadharam and his relatives.

ACB teams swooped on Gangadharam’s and his relatives’ houses simultaneously based on the information that he allegedly made illegal wealth thorough bribes and benami contracts.

The ACB recovered ₹40 lakh in cash and ₹50 lakh worth gold from Gangadharam’s house at Kukatpally and ₹42 lakh in cash from his benami contractors Nagabhushanam and Visweswaraiah in Guntur.

Sources said Gangadharam came on ACB’S radar early this year when the state roads department proposed an increase in the cost of expanding the 9.6 km Visakhapatnambheemili beach road from ₹65 crore to ₹195 crore.