The Central Bureau of Investigation, which has reportedly issued FIRs against the Kadapa MP, Mr Y.S. Jagan Mohan Reddy, his investors and former top bureaucrats involved in the case and the Emaar scam, started investigations in earnest on Wednesday.The CBI joint director, Mr V. Lakshminarayana, spent more than two hours in the courts with a judge and indications are that an FIR has been issued against Mr Jagan Mohan Reddy and others for misappropriation and criminal conspiracy under the Money Laundering Act and the Prevention of Corruption Act.

The YSR Congress chief’s houses in the city and in Bengaluru and the offices of Jagati Publications Limited including Sakshi media offices, and offices of other companies owned by him as well as that of Mr Nimmagadda Prasad and of around 30 companies are likely to be searched, said sources.The CBI has received permission to search 91 places for both cases involving Mr Jagan Mohan Reddy’s illegal assets and the Emaar scam.In Mr Jagan Mohan Reddy’s case, 52 accused have been named while 17 accused have been named in the Emaar case. Emaar MGF, Emaar Properties Limited PJSC, Emaar Hills Township Private Limited, Stylish Homes Private Limited have also been named in the case.

Meanwhile, teams including officials from Visakhapatnam and Bengaluru congregated at the Dilkhusha Guest House in the city on Wednesday and were briefed by the CBI top cops regarding their part in the probe.Sources said that the blistering pace of the CBI probe indicated that the key accused in the Emaar and Jagan cases might be arrested as soon as material evidence was found against them.
An FIR has also reportedly been issued in the Emaar case against former APIIC officials and Emaar authorities and beneficiaries.“When it happens we will let you know through a press release,” said a tight-lipped Mr Lakshminarayana. CBI also did not officially confirm the searches.

It is not known whether YSR has been named an accused or not. Sources, however, pointed out that a case could be made out only if he was named an accused.Mr Jagan Mohan Reddy has already moved the Supreme Court for a stay order in the probe.

CBI Begins Raids in Jagan Mohan Reddy's Companies

CBI Begins Raids in Jagan Mohan Reddy's Companies