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Two teams of the Central Bureau of Investigation on Thursday morning conducted raids at the residence of YSR Congress chief Jaganmohan Reddy in Bengaluru.
The CBI reached his home at Shivpur in Yelahanka at 8 am on Thursday; the raids have been going on since then.
Twelve teams of the CBI are also conducting raids at 30 properties -- owned by Jagan and those who have invested in his companies -- in Hyderabad and Bengaluru.
According to sources, the raids may go on for the next two days and the probe agency may conduct raids on as many as 180 offices/business establishments/residences directly or indirectly owned by Jagan and his associates.
The CBI will also conduct raids on the properties owned by Jagan's associates and his investors, sources said.
The CBI has obtained a search warrant for at least 200 properties in Hyderabad, Bengaluru, Delhi and Maharashtra, among others.
The raids come in the wake of the Andhra Pradesh high court's order to the investigating agency to probe his assets and the flow of investments to his companies.
Jagan is accused of illegally amassing wealth by misusing political power when his father YS Rajasekhar Reddy was the chief minister
The raids are expected to continue all day and could be followed by raids at the other properties owned by him in Karnataka and Andhra Pradesh.
The CBI has already registered a FIR for criminal investigations to probe Jagan's wealth.