Curtains fall on rumors, CBI arrests Jagan

May 27, 2012 17:53
Curtains fall on rumors, CBI arrests Jagan

Ending all controversies in the Jagan-CBI melodrama, the investigating agency arrests the YSR Congress Chief after severely questioning him from last three days. CBI had been grilling the late Chief Minister Y S Rajasekhar Reddy’s son in the disproportionate assets case.

The CBI inquiry into Jagan’s business empire and the source of its funds was ordered by the Andhra Pradesh High Court in August 2011.  CBI alleges that when the late YSR was in office, he had abused his power and conspired with the ministers to influence entrepreneurs to invest in his son’s companies for favors from the government.

Meanwhile Enforcement Directorate also plans to question Jagan on the issues based on the statement made by Nimmagadda Prasad. They would also question him on the funds flowing from the companies of Vanpic, Bharathi, Carmel and other companies into the companies of Jagan. Earlier ED had sought, the special CBI Court, permission of questioning Jagan.it may be noted Late last December the ED had registered a case under the provisions of Prevention of Money Laundering Act (PMLA) 2002 against him and is also probing alleged contravention of foreign exchange rules in his financial transactions and investments. (With Inputs from Internet- Aarkay)

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