ED attaches Nimmagadda assets worth 149 crore

nimmagaddaIndustrialist Nimmagadda Prasad assets have been attached by Enforcement Directorate ED in quid pro quo case of YSRCP chief YS Jagan Mohan Reddy.

ED attached lands illegally allotted to the companies of Nimmagadda Prasad to the extent of 11804.78 acres in Prakasam and Guntur districts in Andhra Pradesh, valued at Rs 148.89 crores

According to investigation under Prevention of Money Laundering Act, Nimmagadda Prasad paid bribe amounts to Jagan in the form of investments in Jagan companies by the purchase of shares at High value.

Nimmagadda invested in Jagati Publications Limited, Carmel Asia Holdings Private Limited, Bharathi Cement Corporation Private Limited & Silicon Builders Private Limited. Nimmagadda Prasad was favored illegally with awarding VANPIC Project allotting 18,700 acres of land.