TTD Deputy EO Lokanatham Arrested in Disproportionate Assets Case
The ACB has arrested TTD Deputy EO Lokanatham after searches allegedly uncovered assets worth about Rs 5 crore, including gold, silver, cash, houses and valuable land.
The Anti Corruption Bureau has arrested Tirumala Tirupati Devasthanams Deputy Executive Officer Lokanatham in a disproportionate assets case. Following his arrest, officials took him to the ACB office for further questioning.
The action came after extensive searches that began on Wednesday morning under the supervision of Tirupati ACB DSP Srinivasa Rao. Five special teams reportedly carried out searches at Lokanatham’s residence as well as the homes of his relatives.
During the searches, ACB officials initially estimated the value of the allegedly unaccounted assets at around Rs 5 crore. Investigators also seized around 2 kilograms of gold, 6.5 kilograms of silver and Rs 12.50 lakh in cash from his residence.
The investigation also reportedly uncovered houses and valuable plots in different locations in the names of Lokanatham’s wife and son. Officials are examining these properties as part of the disproportionate assets investigation.
The searches continued for several hours before the arrest was made on Thursday. The case has attracted considerable attention in Tirupati, particularly because Lokanatham held a key administrative position in TTD.
The ACB is expected to examine the source of the assets and other financial details as the investigation progresses. Further details are likely to emerge during the ongoing inquiry.
