Hyderabad: Multi-millionaire Megha Krishna Reddy, who rose to fame with various government projects using his affinity with both the Chief Ministers of Telugu states is now in peril. According to the trusted sources, the searches going on from the past few days revealed crucial information about the scandals and money laundering. It is known that Income tax officials have already seized crores worth diamond jewellery and sacks of important documents. Grapevine has it that the searches going on from 6 days have come to conclusion and the IT officials are interrogating Megha from the past 2 days. Enforcement Directorate was already informed about the illegal documents and the disproportional asserts and ED would enter the scene any time soon. While the investigation is likely to continue until Friday, many of the officials under the search operations are speculating that IT and ED would arrest the industry giant.