Cong MLA blames political rival for ED raids over alleged foreign assets

Chikkaballapura: Congress MLA S N Subba Reddy on Friday alleged that a political rival was behind the ED raids conducted on his residence and five other premises in connection with a probe into alleged undisclosed foreign assets.

Speaking to reporters, Reddy denied owning any foreign assets and said the Enforcement Directorate (ED) has summoned him for questioning on July 14. At least five premises in Bengaluru, including that of the Bagepalli legislator, were searched under section 37 of the Foreign Exchange Management Act (FEMA), on Thursday.

The probe pertains to alleged foreign bank deposits, investments in vehicles, and immovable properties in countries including Malaysia, Hong Kong, and Germany, allegedly held by Reddy and his family members, sources said. He said, during the raid, the ED officials questioned him about whether he held any assets abroad, specifically in Malaysia.

“I told the ED officials that if at all there is an investment of even a paisa in the foreign country, I will donate my entire property to your government. I even told them that I will give it in affidavit, which they can take away with them,” said Reddy.

He added that the ED officials did not give him any clear information during the raid and said he would appear before the investigators on Jul 14.