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India's Enforcement Directorate raids premises of YSR Congress leader Malla Vijaya Prasad in chit fund probe
The Enforcement Directorate (ED) carried out simultaneous searches at five locations in Visakhapatnam and Hyderabad, targeting the residence, office and other premises of former MLA Malla Vijaya Prasad, who chairs the Welfare Group of Companies.
The raids are part of a money‑laundering investigation into an alleged multi‑state chit‑fund scam said to involve about Rs 1,200 crore and thousands of depositors across Andhra Pradesh, Odisha, Telangana, Chhattisgarh and other states.
Prasad, a YSR Congress Party coordinator for Visakhapatnam West, has faced multiple cases, including a 2021 arrest by Odisha police, earlier CBI cases in 2016, and charges in several states. ED officials from Odisha and West Bengal participated, with police and CRPF providing security during the operations.
Entities
Central Bureau of Investigation · Enforcement Directorate · Malla Vijaya Prasad · Welfare Group of Companies · YSR Congress Party
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Police and CRPF personnel provided security during the raids. bhaskarlive.in · www.socialnews.xyz
- [● 2 SOURCES] ED officials from Odisha and West Bengal participated in the searches. bhaskarlive.in · www.socialnews.xyz
- [● 3 SOURCES] He is chairman of the Welfare Group of Companies (also referred to as Wellfare Buildings and Estates Pvt Ltd). bhaskarlive.in · odishatv.in · www.socialnews.xyz
- [● 3 SOURCES] He has faced multiple legal cases, including a 2021 arrest by Odisha police and earlier CBI cases in 2016. bhaskarlive.in · odishatv.in · www.socialnews.xyz
- [● 3 SOURCES] The investigation concerns an alleged multi‑state chit‑fund scam involving about Rs 1,200 crore. bhaskarlive.in · odishatv.in · www.socialnews.xyz
- [● 2 SOURCES] The Enforcement Directorate conducted searches at premises in Visakhapatnam and Hyderabad linked to Malla Vijaya Prasad. bhaskarlive.in · www.socialnews.xyz
- [● 3 SOURCES] Malla Vijaya Prasad is a YSR Congress Party leader and former MLA from Visakhapatnam West. bhaskarlive.in · odishatv.in · www.socialnews.xyz