BSNL general manager G Raghavendra Rao has been booked for allegedly acquiring assets in his name and in the names of his family members, a CBI release here said.
The case was registered after CBI officials conducted searches at his office and residence in Rajahmundry and also at his house in Hyderabad.
Searches were also conducted at the residential premises of Rao's close relatives in Vijayawada and Hyderabad, following which assets worth over Rs two crore were found, the release said.
The immovable assets include a luxurious flat in the Raintree park complex at Kukatpally, Hyderabad worth around Rs one core and more than 23 acres of land in Krishna and Ranga Reddy districts.
The land and flat were purchased by declaring less value than the actual amount paid for them.
Several incriminating documents related to his properties were also seized from a bank locker in the name of his wife in Hyderabad.
Further investigation into the case is on, the release added.
