The Enforcement Directorate (ED) on Wednesday conducted searches at the premises linked to YSR Congress Party leader Malla Vijaya Prasad in a chit fund scam case. The ED officials conducted simultaneous searches at five places in Visakhapatnam and Hyderabad.
The searches were conducted at the residence, office and other premises of the former MLA and chairman of Welfare Group of Companies. The raids were reported to be part of the investigation by the Central agency into the allegations of money laundering probe into alleged multi-state chit fund scam.
The Central agency is probing the allegations against Vijaya Prasad and Welfare Group of Companies. ED officials from Odisha and West Bengal are reported to be participating in the searches. Police and CRPF personnel made tight security arrangements during the searches.
Vijaya Prasad is YSRCP’s coordinator for Visakhapatnam West constituency. A few cases were filed against him in Odisha, West Bengal, Bihar and Jharkhand in the past. In 2021, Odisha police arrested him for his alleged involvement in the 2019 chit fund case. He was then serving as the chairman of Andhra Pradesh Education and Welfare Development Corporation.
