ACB detects ill-gotten assets of over Rs 5 cr from AP engineer

The ACB has unearthed disproportionate assets over Rs five crore allegedly owned by a senior Andhra Pradesh State Housing Corporation Ltd (APSHCL) engineer after raiding his residences in various cities in the state, a senior official said today. 

The sleuths, led by DSP Venkateswara Rao, conducted simultaneous raids last night at the residences of Housing Corporation Deputy Executive Engineer P Nageswara Rao, currently posted at Samalkota in East Godavari district, at Bhiavaram, Kathipudi, Kakinadaand Hyderabad. 

The assets included bank accounts worth Rs 26 lakh, LIC policies of the amounts of Rs 1.40 crore and Rs 3.40 crore, 13 acres of agricultural land, shares worth Rs 50 lakh, 770 gms of gold, 700 gms of gold ornaments, besides silver articlesand a car worth Rs 2 lakh, Rao said, adding the total assets worth above Rs 5 crore.

 Nageswara Rao was arrested today and a case is registered against him, the DSP said.