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Aide floated firms to park Jagan’s ill-gotten money: CBI
The CBI, probing corruption allegations against Kadapa MP YS Jaganmohan Reddy, on Tuesday alleged that his financial advisor V Vijay Sai Reddy was the kingpin behind the conspiracy in parking the ill-gotten money by floating fictitious firms.
CBI which arrested Vijay Sai on Monday night, the second accused in the alleged disproportionate assets of Jaganmohan Reddy case, in its remand report claimed that vital information pertaining to the case was within the exclusive knowledge of Vijay Sai.
Seeking his 14-day police custody, the central agency filed a petition stating that Vijay Sai, vice-chairman of Jagati Publications Pvt Ltd (JPPL), facilitated the transfer of bribe money through various companies in JPPL.
“He (Vijay Sai) is kingpin behind the entire conspiracy in accommodating the ill-gotten money by floating fictitious and non-existing firms. He is also aware of the names of persons/individuals who were shown as Director of the non-existing firms/ companies,” the CBI alleged.
In its FIR against Jaganmohan and 73 others including Vijay Sai, the CBI alleged that various investors who are beneficiaries of public properties, licences among others invested in the companies promoted by Jagan at very high premiums as a quid-pro-quo to the favours doled out by former Andhra Pradesh Chief Minister late YS Rajasekhar Reddy on his son’s (Jagan’s) influence.
The CBI, probing corruption allegations against Kadapa MP YS Jaganmohan Reddy, on Tuesday alleged that his financial advisor V Vijay Sai Reddy was the kingpin behind the conspiracy in parking the ill-gotten money by floating fictitious firms.
CBI which arrested Vijay Sai on Monday night, the second accused in the alleged disproportionate assets of Jaganmohan Reddy case, in its remand report claimed that vital information pertaining to the case was within the exclusive knowledge of Vijay Sai.
Seeking his 14-day police custody, the central agency filed a petition stating that Vijay Sai, vice-chairman of Jagati Publications Pvt Ltd (JPPL), facilitated the transfer of bribe money through various companies in JPPL.
“He (Vijay Sai) is kingpin behind the entire conspiracy in accommodating the ill-gotten money by floating fictitious and non-existing firms. He is also aware of the names of persons/individuals who were shown as Director of the non-existing firms/ companies,” the CBI alleged.
In its FIR against Jaganmohan and 73 others including Vijay Sai, the CBI alleged that various investors who are beneficiaries of public properties, licences among others invested in the companies promoted by Jagan at very high premiums as a quid-pro-quo to the favours doled out by former Andhra Pradesh Chief Minister late YS Rajasekhar Reddy on his son’s (Jagan’s) influence.
