The Central Bureau of Investigation (CBI) conducted searches in Hyderabad at the residence and two other places of Raghuram Krishnam Raju, Jagan Mohan Reddy’s YSR Congress Party (YSRCP) leader, in connection with a Rs 2,655-crore bank fraud case. The raids are underway at two residences and four offices in Hyderabad.
Raju, an industrialist from Andhra Pradesh's West Godavari district, joined the YSRCP in March. Raju had started his political career with the YSRCP soon after the party was floated. In 2014, he did not get a ticket for the Lok Sabha elections and later joined the BJP in anticipation of the Narasapuram Lok Sabha seat.
However, he was sidelined by the BJP as well and Gokaraju Gangaraju later won the election from that seat. Raju remained in the BJP till 2018. In May last year, he joined the Telugu Desam Party (TDP). Raju became popular with his support for cockfights during Sankranti festival. He used to approach legal means to get permission for cockfights