Hyderabad, May 10 -- Directorate of Enforcement has arrested Dandamudi Venkateswara Rao, popularly known as DV Rao, along with two others in connection with an alleged Rs 284-crore money laundering case involving fraudulent loans, shell companies and fake transactions.

In a statement issued on Saturday, May 9, the ED said searches conducted as part of the investigation led to the seizure of gold and diamond jewellery worth around Rs 5 crore belonging to DV Rao and his family members.

According to the agency, DV Rao had repeatedly ignored summons issued during the investigation and was absconding, prompting a court to issue a non-bailable warrant against him.

The ED alleged that his brother, Avaneendra Kumar, played a key role in obstru...