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Jagan Illegal Assets Case: Vijay Sai Reddy Arrested
Publish Date:Jan 3, 2012
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The Central Bureau of Investigation (CBI) made its first arrest in Kadapa MP and YSR Congress president YS Jagan Mohan Reddy's illegal assets case. The CBI on Monday night arrested V Vijay Sai Reddy, who is named as accused No. 2 in the alleged illegal assets case. He will be produced in the special CBI court on Tuesday.
This is the first arrest in the case in which the CBI has named 74 accused including Jagan who is accused No.1. Jagan has been charged with doling out public properties, licences, allotting/ granting various projects, SEZs, mining leases, ports, real estate permissions and other benefits to people of his choice in violation of established norms and procedures in the government in a clear quid-pro-quo basis. The beneficiaries in turn are alleged to have given huge bribes to Jagan under the guise of purchasing shares in companies floated by him at huge and outrageous premiums. Even the Enforcement Directorate has been probing the alleged money-laundering by Jagan.
Vijay Sai Reddy is alleged to have played a key role in all these transactions and the CBI is said to have strong evidence against him. The vice-chairman of Jagati Publications Private Limited (JPPL), Vijay Sai Reddy, who has been questioned several times by the CBI at its office, was summoned again on Monday. He reported there in the morning, remained there throughout the day and was arrested at night. Reddy was then shifted to a dingy lock-up in the Central Crime Station.
The arrest has come as a clear jolt to the Jagan camp, as his arrest, though it had been on the cards, was not expected by them so soon.
http://www.teluguone.com/news/content/ys-jagan-mohan-reddy-assets-case-20-10540.html
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