Andhra Pradesh CID 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).
CID DSP Subbaraju told ANI that their team conducted the raid throughout the day and seized almost 3 kg gold, almost 2 kg of silver, more than Rs 1 crore cash and documents of many properties. Old currency of face value Rs 10 lakh were also recovered from Srinivasulu’s house.
The CID sleuths have been investigating the case of irregularities in APCO since the Telugu Desam Party (TDP) regime.
The CID 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 and simultaneous raids.
The CID said they will investigate why such a large amount of cash, gold, and silver were kept in the house.