Overview

• The Enforcement Directorate executed search operations at eight Hyderabad premises on July 30 under the Prevention of Money Laundering Act in connection with the Sheep Rearing Development Scheme probe.
• Investigators recovered blank cheque books, passbooks and debit cards from more than 200 suspected mule bank accounts, alongside 31 mobile phones and over 20 SIM cards used in the alleged laundering network.
• Seized documents and digital records suggest that funds meant for legitimate shepherd beneficiaries were funneled through bogus vendors into mule accounts linked to an illegal online betting application.
• Recovered evidence indicates illicit kickback payments to government officials and scheme administrators, deepening scrutiny of post-election record tampering by former officers.
• Building on a 2021 CAG audit that flagged ₹253.93 crore in irregularities across seven districts, the ED now estimates the total misappropriation could exceed ₹1,000 crore statewide.