Enforcement Directorate officials have reached the CBI office in Dilsukha Guest house to question the YSR Congress Chief Jagan Mohan Reddy in the illegal assets case, today. ED has already sought the permission from the special Court in this regards. After the CBI finish their questioning the ED shall be questioning the young leader based on the statements made by Nimmagadda Prasad that he has invested finance in the companies of Jagan.
ED would also question him on the funds flowing from the companies of Vanpic, Bharathi, Carmel and other companies into the companies of owned by Jagan.
Late last December ED was likely to question the YSRC Chief in the money laundering and foreign exchange violations case registered against him and his associates. The ED has registered a case under the provisions of Prevention of Money Laundering Act (PMLA) 2002 against him and is also probing alleged contravention of foreign exchange rules in his financial transactions and investments. The ED action has come after the CBI had registered a case against Jagan and had searched various premises belonging to him. The ED has conducted a probe to trail the funds pumped by Jagan and his associates into the companies owned by them. They had also questioned a few officials of Jagan owned companies in this regards.
It may be noted that the ED is preparing the ground for an intensive probe, early this week. As part of its extension, the ED even sought the special CBI court for the charge sheet filed by the CBI on the former Industries Secretary, Y. Srilakshmi. The court agreed subsequent to the approval of the CBI. ED also sought the Court’s permission for interrogating the arrested in the case, including those in judicial custody. Sources reveal that with this move the ED will go to the roots of investments made in the Jagan group companies and the origin of investments.
It may be noted CBI is quizzing Jagan today. The CBI inquiry into Jagan’s business empire and the source of its funds was ordered by the Andhra Pradesh High Court in August 2011. CBI alleges that when the late YSR was in office, he had abused his power and conspired with the ministers to influence entrepreneurs to invest in his son’s companies for favors from the government.