Money laundering case against Jagan
Hyderabad: Enforcement Directorate has registered a money laundering case against former Congress leader Y.S. Jaganmohan Reddy, days after CBI had searched various premises belonging to him.
The case was registered after ED conducted a probe to trail the funds pumped by the MP and son of former Andhra Pradesh chief minister Y.S. Rajasekhara Reddy and his associates into the companies owned by them.
The agency, according to sources, is expected to speed up the probe in this case and register separate cases under foreign currency exchange laws, making the CBI chargesheet in this case as the basis for its action.
CBI has already registered a case against Reddy on the instructions of Andhra Pradesh High Court under relevant sections of the IPC pertaining to cheating, criminal conspiracy, criminal breach of trust and under provisions of Prevention of Corruption Act.
CBI had on August 18 searched the premises at Hyderabad, Bangalore, Chennai, Kolkata, Rajkot, Delhi and Mumbai in this connection.
News Posted: 30 August, 2011
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