Andhra Pradesh Criminal Investigation Department (CID) raided the house of former chairman of Andhra Pradesh State Handloom Weavers Cooperative Society (APCO), Gujjala Srinivasulu at Khajipet town in Kadapa district on Friday.
The team raided and seized almost 3 kilograms of gold, almost 2 kilograms of silver, more than Rs 1 crore cash, and documents of many properties. The old currency of face value 10 lakh was recovered from Srinivasulu's house.
The teams carried out raids at Srinivasulu's residence, his Dhamkhana Palle-based office, the residence of his employees after taking the court's permission.
The former APCO chairman could not hide anything due to sudden raids by the CID slueths at his properties simultaneously, CID DSP Subbaraju said.