BRS Leader K T Rama Rao to Face ED in Formula-E Financial Probe

BRS Working President K T Rama Rao is set to appear before the Enforcement Directorate on January 16 for questioning related to a money laundering case concerning the Formula-E race. The investigation involves alleged payment irregularities amounting to Rs 55 crore linked to the planned 2024 Hyderabad event.

Working President of BRS, K T Rama Rao, will present himself to the Enforcement Directorate (ED) on January 16, following a summons in connection with an ongoing money laundering investigation for the Formula-E race.

The federal investigation, prompted by a complaint from the Telangana Anti-Corruption Bureau, hinges on alleged payment discrepancies involving Rs 55 crore in foreign currency, reportedly misallocated during his term as Municipal Administration Minister.

The race, initially slated for 2024, was organized in February 2023, then scrapped under the new Congress government. The ED's case cites multiple violations under money laundering and corruption laws.

(With inputs from agencies.)