ED questions accused in Emaar scam case

A four-member Enforcement Directorate (ED) team began questioning the accused involved in the Emaar scam case at Chanchalguda Central Jail here today. The ED is questioning Trimex Group Chairman Koneru Prasad, whose bail application was rejected by the Andhra Pradesh High Court yesterday, IAS Officer B P Acharya, Kadapa MP Y S Jagan Mohan Reddy’s distant relative Sunil Reddy and Financial Controller of Emaar MGF Land V Venkata Vijay Raghav mainly on the alleged offences under the Prevention of Money Laundering Act (PMLA). Sources said the ED is also ascertaining from the accused on the allegations that the plots were sold at the rate of Rs 10,000 to Rs 50,000 per square yard but the records were falsified to show that they were sold only for Rs 5,000 and the alleged black money which was owned by Mr Koneru Prasad had been diverted into NRI accounts in Dubai. Emaar had entered into an agreement with Stylish Homes to sell villa plots at a pre-determined price, less than the market price, without the knowledge and consent of the APIIC, the joint venture partner for the project. The questioning which started at 1030 hrs in the presence of the advocates of the accused would end at 1700 hrs. The Ed had questioned Industrialist Nimmagadda Prasad, Supended IAS officer B P Acharya and Bureaucrat K V Brahmananda Reddy in the Jail in the disproportionate assets case of YSR Congress Party President Y S Jagan Mohan Reddy yesterday. The questioning was mainly on the investments made by Mr Prasad in different companies of Mr Jagan and on the benefits received by the Vanpic project through Mr Acharya and Brahamananda Reddy during the tenure of Y S Rajasekhara Reddy government. The ED had grilled in the Jail Obulapuram Managing Director B V Srinivas Reddy, Andhra Pradesh Mineral Development Corporation (APMDC) former Managing Director V D Rajagopal and suspended IAS officer Srilakshmi in the illegal mining case on June 24. The CBI Court will hear the arguments on the ED petition to question Mr Jagan Mohan Reddy in the chanchalguda jail, on June 28. The CBI Court in its order delivered on June 19 had directed the ED to complete thegrilling within 15 days by July 3.