ED Registers Money Laundering Case Against Jaganmohan ReddyHyderabad, August 30: Enforcement Directorate has registered a money laundering case against former Congress leader Y S Jaganmohan Reddy, days after CBI had searched various premises belonging to him. The was registered after ED conduct a
Hyderabad, August 30: Enforcement Directorate has registered a money laundering case against former Congress leader Y S Jaganmohan Reddy, days after CBI had searched various premises belonging to him.
The was registered after ED conduct a probe to trail the funds pumped by the MP and son of former Andhra Pradesh chief minister Y S Rajasekhara Reddy and his associates into the companies owned by them.
The agency, according to sources, is expected to speed up the probe in this case and register separate cases under foreign currency exchange laws, making the CBI charge sheet in this case as the basis for its action.
CBI has already registered a case against Reddy on the instructions of Andhra Pradesh high court under relevant sections of the IPC pertaining to cheating, criminal conspiracy, criminal breach of trust and under provisions of Prevention of Corruption Act.
CBI had on August 18 searched the premises at Hyderabad, Bangalore, Chennai, Kolkata, Rajkot, Delhi and Mumbai in this connection.
“CBI has registered a case...against a Member of Parliament from Andhra Pradesh, and others, on the orders of high court of Andhra Pradesh...on the allegation that the investors invested in the companies owned and promoted by the MP at very high premiums as a quid-pro-quo for the favours doled out by the then chief minister of Andhra Pradesh,” CBI had said earlier. PTI