CBI seizes Rs 2 cr gold jewellery from lockers of Reddy's aide

BELLARY: A CBI team today seized gold jewellery worth about Rs two crore from bank lockers of Obulapuram Mining Corporation (OMC) Managing Director Srinivasa Reddy here, who was brought from Hyderabad for enquiries into his monetary transactions.

Reddy, currently under CBI custody for questioning relating to his alleged role in illegal mining, was taken to a private bank, where details of his various accounts and also in benami names were examined.

Srinivasa Reddy reportedly has six lockers in the private bank, of which four have so far been opened. The lockers have gold jewellery and other documents, sources said, but declined to share details of seizures.

They said Reddy had managed to open bank accounts in benami names with the help of the then bank manager, who is now posted in Bangalore. These accounts were used to transfer funds earned from illegal mining, they said.

Former Karnataka minister Gali Janardhana Reddy and his brother-in-law Srinivasa Reddy, arrested by CBI on Sept 5 in connection with its illegal mining probe, are in CBI custody till September 19.

The sources said one CBI team conducted searches on a rice mill owned by a close associate of Janardhana Reddy here while another conducted raids on his aides in Ananthapur, including his driver, and seized about Rs 20 lakh in cash.

Another CBI team also visited mining areas of OMC in the Karnataka-Andhra Pradesh border at Malpangudi, Pumpi and Vidlapura, they said.