The directorate of vigilance and anti-corruption-authorities are raiding former two-time AIADMK MLA KPP Baskar in Tamil Nadu.
Raids are being conducted at 26 places including his properties in Namakkal, and those close to him and suspected to be his associates.
In a statement the probe agency said, "The former MLA has accumulated Rs 4.72 crore assets, 315 per cent more than his legal income and searches in Namakkal, Madurai and Tiruppur are part of the ongoing investigation."
The First Information Report, or FIR, cites a total lawful income of only Rs 1.4 core during the check period between 2016 and 2021 during his second term as MLA.
The complaint alleges that after expenses of Rs 61 lakh, the balance ought to be approximately Rs 88 lakh. The MLA and his family, however, have acquired properties worth Rs 4.72 crore, the FIR stated.
The AIADMK is yet to issue a formal response. A source in the party called the raids "political vendetta" and that the party will face it legally.
Mr Baskar is the 8th AIADMK leader to be raided by the probe agency ever since the DMK government took over last year. Among these are seven former ministers.