The Enforcement Directorate on Wednesday attached more properties belonging to YSR Congress Party chief YS Jaganmohan Reddy in connection with its investigation into a money-laundering case. The property attached as part of the probe into the matter so far is worth almost Rs 2,500 crore, including property worth Rs 749 crore that was attached on Wednesday.
The agency had launched an inquiry under the Prevention of Money Laundering Act following a Central Bureau of Investigation chargesheet that accused Jagan of criminal conspiracy. The ED’s investigation revealed that several investments were made in his company after his father YS Rajashekara Reddy was made chief minister in 2004. “Jagan received bribes from various persons/companies under the guise of investments in his group of companies, as a quid pro quo for undue favours granted to them by the Andhra Pradesh government,” the directorate said in a statement.
According to the ED, Jagan also helped the company – Bharathi Cements – get a mining licence and received limestone from illegally allotted land in Kadapa. His wife YS Bharathi Reddy is the chairperson of the company.