ED Attaches 148 Crore properties of Jagan

Amravati July 28: A shock has been received.The Enforcement Directorate today has attached assets worth over Rs 148 crore of YSR Congress leader Jagan Mohan Reddy.ED has said they have taken this action under the Prevention of Money laundering Act.

The agency has said it has attached land worth Rs 148.89 crores belonging to companies of Nimmagadda Prasad in YS Jagan Mohanan Reddy under the money laundering probe.The Agency has acted after CBI has filed a FIR stating that the politician made illegal assets.

Sources say that Jagan has utilized his father influence to setup various shell companies to launder the money he has acquired through quid pro quo investments made by beneficiaries from decisions of the state government in various forms like SEZs (special economic zones), irrigation contracts, relaxation/permission for real estate ventures, mines among others.