Bollywood

Liquor Rip-off Principal Accused Used Movie Manufacturing To Convert Black Cash To White



The Andhra Pradesh Crime Investigation Division’s (CID) Particular Investigation Staff (SIT) has unearthed a major scandal, exposing a deep-seated connection between people related to YSRCP leaders and the Tollywood movie trade. This probe into the alleged Liquor Rip-off reveals how a movie manufacturing firm, ED Entertainments, based by prime accused Kesireddy Rajasekhar Reddy, often known as Raj Kesireddy, was allegedly used to launder black cash.

Raj Kesireddy, who beforehand served as an IT advisor to former Chief Minister Y.S. Jaganmohan Reddy, had his arrest within the purported Rs 3,200 crore Liquor Rip-off upheld by the Supreme Courtroom on Could 23. The SIT is meticulously investigating the illicit monetary actions tied to liquor gross sales throughout the earlier authorities’s administration within the state, bringing to gentle a complicated scheme to transform illicit funds into official belongings by movie investments.

The investigation by the SIT detailed how ED Entertainments produced two Telugu characteristic movies, “Malli Modalaindi” starring Sumanth and “Spy” with Nikhil Siddharth, between 2020 and 2023. Whereas the corporate formally declared a manufacturing value of solely Rs 12 crore, stating these as borrowed funds, the SIT found an extra Rs 28 crore was spent in money, pushing the precise expenditure to Rs 40 crore.

The black cash, allegedly accrued from liquor distilleries and provide firms, was reportedly routed to a bunch of people who then deposited these funds into the manufacturing agency’s financial institution accounts as loans. A evident instance features a Rs 1 crore switch to ED Entertainments that was by no means repaid, highlighting the fraudulent nature of those transactions.