The CBI may add the name of Mr Raghu Rama Krishnam Raju, the co-father-in-law of Rajya Sabha MP Mr KVP Ramachandra rao as one of the co-accused in the APIIC-Emaar land scam, according to reports in a section of the media.
CBI officials found Mr Krishanam Raju and his family members bought one villa and four plots in the hi-tech Emaar Boulder Hills project and reportedly questioned him on the deals. Mr Raju was said to have insisted that he paid only at the rate of Rs.5000 per square yard for buying the villa and plots.
The information that his family members owned one villa and four plots in the Emaar Boulder Hills had come to light during the raids conducted by the IT officials on his premises recently. Reports said the IT officials had found documents for unaccounted transactions worth Rs.110 Cr in his premises.
CBI also has found that some benami or anonymous firms had invested huge amounts in companies owned by Raghu Rama Krishnam Raju and he may be booked under the provisions of the money laundering act.
He also denied of receiving any favours from KVP who worked as an adviser to the government during the regime of the YSR. (JUBS)