Enforcement Directorate today attached properties worth over 749 crore rupees belonging to YSR Congress chief Y S Jagan Mohan Reddy and his wife Y S Bharathi Reddy in connection with its probe in a money laundering case.
The agency launched the investigations on the basis of a charge sheet filed by the CBI accusing Jagan, of entering into a criminal conspiracy with others to get a mining lease allotted to M/s Bharathi Cement Corporation Private Ltd of which Bharathi is the chairman.
ED said in a statement in Hyderabad that Jagan received bribes from various persons/companies in the guise of investments in his group companies as a quid pro quo for undue favours granted to them by the the erstwhile Rajasekhar Reddy government in Andhra Pradesh. M/s Bharathi Cement Corporation Pvt Ltd has also received the proceeds of crime in the form of limestone mined from the mines allotted illegally to them in Kadapa district by then AP government.
Jagan is the son of then Andhra Pradesh Chief Minister YS Rajasekhar Reddy. A case of laundering was registered against Jagan and others by ED’s Hyderabad zonal office. The attached properties are spread across Telangana, Andhra Pradesh and Karnataka. In the past, the agency had attached properties worth several hundreds of crores belonging to Jagan and others.