<p>Hyderabad: The Special Investigation Team (SIT) probing the alleged liquor scam in Andhra Pradesh during the YSRCP regime has uncovered a <a href="https://www.deccanherald.com/india/andhra-pradesh/elaborate-int-l-money-laundering-network-exposed-in-andhra-liquor-scam-3641019">sophisticated money laundering scheme</a> involving distilleries, liquor suppliers, and gold merchants.</p><p>The investigation revealed that in several cases, distilleries and liquor suppliers colluded with gold merchants to convert kickback payments into gold, effectively laundering money through precious metal transactions.</p><p>The SIT's analysis of bank statements has identified suspicious transactions worth approximately Rs 100-120 crore. SIT found that Tilak Nagar Industries, renowned for its Mansion House brandy brand, generated revenues of approximately Rs 1,472 crores from the Andhra Pradesh State Beverages Corporation Ltd (APSBCL).</p>.Elaborate international money laundering network exposed in Andhra liquor scam.<p>Based on the quantity and pricing arrangements, SIT teams calculated that approximately Rs 218 crore in kickbacks were paid to the alleged syndicate. The SIT discovered that Tilak Nagar Industries leveraged its privileged position and influence within APSBCL to secure massive sales volumes. To maintain this advantageous relationship, the company systematically routed a portion of its legitimate revenue to jewelry merchants.</p><p>The purchased gold was then transferred to the liquor syndicate handlers. This gave the transactions a veneer of legal GST-compliant business expense, while effectively converting white banked money into untraceable black assets, said the chargesheet into liqour scam by SIT.</p>.Andhra liquor scam: Chargesheet mentions ex-CM Jagan as kickback recipient, not named as accused.<p>“ Tilaknagar Industries Ltd is a legacy liquor manufacturer incorporated in 1933 and during 2019 to 2024, the company was among the largest liquor suppliers to the Andhra Pradesh State Beverages Corporation Limited (APSBCL), pushing top brands like Mansion House Brandy and Courier Napoleon. The Tilaknagar Industries Ltd episode demonstrates that the liquor syndicate exerted ruthless control, compelling even major legacy players to divert part of their legitimate state income through covert gold transactions, " an SIT official said.</p><p>"The accused planned the change in excise policy and also its modalities, to ensure that they would receive large kickbacks, majority portion of such kickbacks was received in cash, gold bullion etc. Further, the accused also planned the routing/rotation of money from the liquor suppliers/manufacturers to themselves/their family members and/or associates. Investigation is underway to unravel the multi-layered financial transaction to unearth the entire set of beneficiaries other than the accused and persons identified so far” he added.</p><p>Notably, they transferred funds to bullion traders and gold merchants, obtained legitimate GST invoices for gold purchases, and subsequently cash was transferred through the prime accused the then IT advisor to the chief mimister, Kesireddy Rajashekhar Reddy with the help of their associates to several accused by such gold merchants after deducting a commission.</p>
<p>Hyderabad: The Special Investigation Team (SIT) probing the alleged liquor scam in Andhra Pradesh during the YSRCP regime has uncovered a <a href="https://www.deccanherald.com/india/andhra-pradesh/elaborate-int-l-money-laundering-network-exposed-in-andhra-liquor-scam-3641019">sophisticated money laundering scheme</a> involving distilleries, liquor suppliers, and gold merchants.</p><p>The investigation revealed that in several cases, distilleries and liquor suppliers colluded with gold merchants to convert kickback payments into gold, effectively laundering money through precious metal transactions.</p><p>The SIT's analysis of bank statements has identified suspicious transactions worth approximately Rs 100-120 crore. SIT found that Tilak Nagar Industries, renowned for its Mansion House brandy brand, generated revenues of approximately Rs 1,472 crores from the Andhra Pradesh State Beverages Corporation Ltd (APSBCL).</p>.Elaborate international money laundering network exposed in Andhra liquor scam.<p>Based on the quantity and pricing arrangements, SIT teams calculated that approximately Rs 218 crore in kickbacks were paid to the alleged syndicate. The SIT discovered that Tilak Nagar Industries leveraged its privileged position and influence within APSBCL to secure massive sales volumes. To maintain this advantageous relationship, the company systematically routed a portion of its legitimate revenue to jewelry merchants.</p><p>The purchased gold was then transferred to the liquor syndicate handlers. This gave the transactions a veneer of legal GST-compliant business expense, while effectively converting white banked money into untraceable black assets, said the chargesheet into liqour scam by SIT.</p>.Andhra liquor scam: Chargesheet mentions ex-CM Jagan as kickback recipient, not named as accused.<p>“ Tilaknagar Industries Ltd is a legacy liquor manufacturer incorporated in 1933 and during 2019 to 2024, the company was among the largest liquor suppliers to the Andhra Pradesh State Beverages Corporation Limited (APSBCL), pushing top brands like Mansion House Brandy and Courier Napoleon. The Tilaknagar Industries Ltd episode demonstrates that the liquor syndicate exerted ruthless control, compelling even major legacy players to divert part of their legitimate state income through covert gold transactions, " an SIT official said.</p><p>"The accused planned the change in excise policy and also its modalities, to ensure that they would receive large kickbacks, majority portion of such kickbacks was received in cash, gold bullion etc. Further, the accused also planned the routing/rotation of money from the liquor suppliers/manufacturers to themselves/their family members and/or associates. Investigation is underway to unravel the multi-layered financial transaction to unearth the entire set of beneficiaries other than the accused and persons identified so far” he added.</p><p>Notably, they transferred funds to bullion traders and gold merchants, obtained legitimate GST invoices for gold purchases, and subsequently cash was transferred through the prime accused the then IT advisor to the chief mimister, Kesireddy Rajashekhar Reddy with the help of their associates to several accused by such gold merchants after deducting a commission.</p>