Govt officer found in possession of assets worth Rs 1.7 cr

Anti Corruption Bureau (ACB) has found assets worth about Rs 1.7 crore allegedly belonging to an Assistant Project Director working in Andhra Pradesh Micro Irrigation Project (APMIP) at Srikakulam, who was later arrested.
Based on a tip-off, a case of disproportionate assets was registered against Ratnala Venkata Vara Prasad and on July 23 simultaneous searches were conducted at his residence as well as those belonging to his relatives and close associates located at Srikakulam, Visakhapatnam and Hyderabad, an ACB release said here today.
During the searches, 40 house sites located at various mandals of Srikakulam district and Ranga Reddy district of Telangana, four residential flats located in Srikakulam town and Visakhapatnam, 950 grams gold ornaments, Rs 6,38,271 kept in various banks, fixed deposits in banks worth of Rs 24,28,352 besides household articles worth Rs 3 lakh were unearthed, the release added.

All worth about Rs 1.69 crore (as per documentary value) were unearthed during the searches while the Market Value of these immovable properties is approximately Rs 4 crore.
Prasad was subsequently arrested and sent to judicial remand. The case is under investigation, the ACB release added.