Jagan Mohan Reddy's properties attached so far- Rs 2,524 crore and counting

India

oi-Vicky

New Delhi, June 30: The Enforcement Directorate (ED) attached more property belonging to Jagan Mohan Reddy, the Chief of the YSR Congress party and son of former Chief Minister of Andhra Pradesh, Y S Rajashekara Reddy on Wednesday. This is the second such exercise that the ED has carried out.

With this attachment, the total worth of property attached by the ED is Rs 2.524 crore. The first attachment which was carried out was worth Rs 1,775 crore while yesterday's exercise involved property worth Rs 749 crore.

ED officials tell OneIndia that the investigations is still on and there will more such exercises in the days to come.

The case against Jagan Mohan Reddy:

The case is registered under the Prevention of Money Laundering Act. The CBI had filed a chargesheet stating that Jagan was receiving bribes under the guise of investments into his companies. It was stated that he had offered favours to businessmen when his father was the Chief Minister.

The ED which is also probing the case under the Prevention of Money Laundering Act (PMLA) said that he had received investments into his companies after 2004 when his father had become the CM.

The ED also points to the Bharathi Cement Corporation Private Limited a company which did not have any major investment until 2007. It states that huge funds were received later from companies belonging to N Prasad of the Vanpic group.

Read More: Another YSR Congress MLA quits Jagan-led YSRC to join TDP

ED officials say that more properties are likely to be attached soon. During the first exercise the ED had attached 1,775 crore worth of property while yesterday properties worth Rs 749 crore had been attached. The total value of the properties attached so far is Rs 2,524 crore.

The properties that have been attached include Bharathi Cements, Sandur Power Project, 903-acre land in Guntur, Jagan's Lotus Pond residence in Jubilee Hills, Sakshi Towers in Banjara Hills and land in Hakimpet. Shares and fixed deposits too have been seized by the ED.

OneIndia News