ED Conducts Raids at YSRCP Leader Malla Vijay Prasad's Properties

The Enforcement Directorate (ED) on Wednesday carried out searches at multiple properties linked to YSRCP leader Malla Vijay Prasad in Hyderabad and Visakhapatnam. According to initial information, the searches are part of an investigation into an alleged chit fund scam involving more than ₹3,000 crore. An ED team from Bihar is reportedly leading the operation at several locations.

Malla Vijay Prasad is the YSRCP coordinator for the Visakhapatnam West Assembly constituency and also serves as the Chairman of the Welfare Group of Companies. The ED is said to be probing alleged financial irregularities and violations linked to the company's operations. Officials have not yet released an official statement on the outcome of the searches, and the investigation is currently underway.