Jagan Reddy PMLA case: Rs 148cr assets attached

Hyderabad
28 Jul 2017

The ED has attached assets worth over Rs 148 crore in connection with its money laundering probe in cases related to YSR Congress leader Jagan Mohan Reddy and others, the agency said.
"ED attaches land worth Rs 148.89 crore in Andhra Pradesh under PMLA of companies of Nimmagadda Prasad in YS Jagan Mohan Reddy case," the agency said.
A provisional attachment order under the PMLA law has been issued, a senior official said.
The ED began its probe against the politician and his associates on the basis of a CBI FIR that stated that since "May 2004, Jagan floated number of companies wherein quid pro quo investments have been 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."