Former minister and Telugu Desam Party MLC Somireddy Chandramohan Reddy is worth more than Rs 500 crore, if one were to go by the allegations levelled by the YSR Congress party.
According YSRC MLA Kakani Goverdhan Reddy, Somireddy amassed huge investments in many companies in countries like Singapore, Malaysia and Hong Kong and these financial transactions have been going on in the name of his family members.
Equipped with some documents related these transactions, Goverdhan said Somireddy had purchased Rs 140 crore worth properties in Singapore, Malasia and Hong Kong between 2001 and 2004. At the same time, Rs 350 crore worth transactions were done in various banks.
He alleged Somireddy is also having luxurious buildings in these countries, besides having memberships in those countries clubs.
He said that he would complain to Union Finance Minister Arun Jatiley about these crores of rupees worth financial transactions seeking CBI probe. These transactions since few years were not shown in Income Tax filings, he added.
However, Somireddy strongly denied these allegations and said that he would quit from politics if these are proved.
Stating that he had never went foreign countries on personal works, he said and had visited only on behalf of the government. Moreover, he alleged that it was YS Jaganmohan Reddy and Govardhan Reddy are having large scale illegal properties.
