Kakinada, Feb 4: Sleuths of Anti Corruption Bureau (ACB) conducted raids on Tuesday on the office and residential premises of two officials in the city- Lanke Raghubabu CEO Setraj and Gandham Venkata Pallamraju SE municipal corporation and unearthed movable and immovable properties disproportionate to their known sources of income.
ACB sources said that Rs 3.5 crores worth of assets including Rs 20 lakhs fixed deposits, Rs 3 lakh bank balance half KG gold ornaments and two kgs of silver articles were unearthed during the raids on the residential premises of Lanke Raghubabu CEO Setraj.
Similarly, in the searches conducted on the house of Municipal corporation SE Pallamraju, a total assets worth Rs 2.75 crores including Rs 26 lakhs FDRs,890 grams of gold ornaments, one kg silver articles were detected.
At the time of filling the report, the search was still on, the sources added. (UNI)