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Redsanders smuggling kingpin Gangi Reddy worth Rs 2000 Cr

Fri, Jul 01, 2016, 01:10 PM
Kollam Gangi Reddy, kingpin in the international redsanders smuggling, had amassed a wealth of Rs 2,000 crore. While Gangi Reddy's wealth is in the form immovable assets of Rs 1000 crore, another Rs 1000 crore was stashed away abroad by him.

The authorities were shocked to find that Gangi Reddy had assets spread over Cuddapah and elsewhere. Belonging to Pullampeta in Cuddapah, Gangi Reddy owned lands in Cuddapah and Railway Kodur, pulverising mills and petrol stations in the area. He also had assets in Tirupati, Chennai, Bangalore and Hyderabad.

For a long while he had taken refuge in Singapore and foreign countries, where he stashed away another Rs 1000 crore, it is stated.

Gangi Reddy was thriving till the TDP government took over in Andhra Pradesh. As the heat was on against redsanders smugglers, he escaped abroad. But the AP police had managed to effect his arrest. He is now lodged in Cuddapah jail.
Agency: Ap7am Desk

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