NEW DELHI: The Enforcement Directorate sleuths from Delhi landed in Hyderabad on Tuesday to investigate money laundering cases against YSR Congress chief Jaganmohan Reddy, who is in judicial custody in connection with a disproportionate assets case.Armed with evidence after filing the first Enforcement Case Information Report (ECIR), the ED team will approach a local court to seek permission to grill the Kadapa MP.ECIR is equivalent to FIR, which was filed against Reddy and 71 other influential persons and companies under Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA).The ED has registered a money laundering case against Jagan and his associates under various provisions of PMLA and FEMA for allegedly laundering more than Rs 2,500 crore by legitimising transfer of money using political clout. “Instead of stashing his black money abroad, Jagan allegedly used his father’s clout and forced companies benefited by the state to pick shares in companies linked to him... During his father’s tenure, public properties, licences, projects, SEZs and mining leases were doled out violating established norms and procedures with a clear understanding of quid-pro-quo,” sources said.The ED in Jagan’s case is on the trail of individuals and companies who shared the booty by floating 22 suspicious mail box companies registered in Bangalore, Kolkata, Delhi and Mumbai.
Comments
0 comment