ED Targets Former Minister KT Rama Rao in Formula-E Race Money Laundering Probe

The Enforcement Directorate has initiated a probe under the Prevention of Money Laundering Act against KT Rama Rao over alleged financial misconduct related to the Formula-E race in Hyderabad. The high-profile case also involves senior officials, with potential repercussions across political and administrative circles in Telangana.

The Enforcement Directorate (ED) has initiated an inquiry under the Prevention of Money Laundering Act (PMLA) against former minister KT Rama Rao and several others over suspicions of financial misconduct linked to the Formula-E race held in Hyderabad in February 2023. This development follows a prior First Information Report (FIR) lodged by the Telangana Anti-Corruption Bureau (ACB) against Bharat Rashtra Samithi leader KTR and his associates in connection with the Formula-E funding case.

The legal proceedings gained a new twist when, on Friday, the Telangana High Court instructed ACB officials to refrain from arresting KTR until December 30. ACB's recent actions include naming BRS working president and legislator Rama Rao in a case concerning alleged unauthorized payments, some reportedly in foreign currency, made during the preparation of the Formula-E event held under a previous government administration.

In a significant move, Telangana Governor Jishnu Dev Varma approved the registration of a case against KTR. The FIR not only identifies KTR as the primary suspect but also implicates senior IAS officer Arvind Kumar and retired bureaucrat BLN Reddy as secondary culprits. Charges are framed under the Prevention of Corruption Act, along with legal provisions addressing criminal breach of trust and conspiracy, adding layers of complexity to the unfolding political and administrative landscape. (ANI)

(With inputs from agencies.)