ACB Uncovers Rs 60 Lakh Gold in Retired Engineer's Locker in Vizag
In a significant development in an ongoing corruption case, officials from the Anti-Corruption Bureau (ACB) in Visakhapatnam have made a startling discovery. Two days after unearthing illegal assets valued at over Rs 30 crore from Kallepalli Srinivasa Rao, a retired superintending engineer of the panchayat raj department, the investigation took a dramatic turn.
Bank Locker Raid Reveals Gold Hoard
The ACB team proceeded to open a bank locker belonging to Rao at an ICICI Bank branch in Vizag city. Inside, they found a substantial cache of gold ornaments, totaling 28 items. This collection included three waist belts and multiple necklaces, with the total weight of the gold amounting to approximately 3.34 kilograms.
The estimated market value of these seized gold items exceeds Rs 60 lakh. According to ACB officials, the ornaments were purchased over various years, indicating a pattern of accumulation. This latest seizure has pushed the total net worth of Rao's illegal assets to about Rs 31 crore, based on current market valuations.
Legal Proceedings and Custody
Kallepalli Srinivasa Rao has been arrested by the ACB in connection with these findings. He has been remanded to 14 days of judicial custody, which will last until February 20. The investigation is ongoing, with authorities delving deeper into the sources and extent of his assets.
This case highlights the persistent efforts of anti-corruption agencies in tackling graft among public officials. The ACB's actions underscore a commitment to transparency and accountability, sending a strong message against illicit wealth accumulation.
