YS Jaganmohan reddy assets worth Rs 750 crore seized by ED

The Enforcement Directorate officials registered a case against YSR Congress President YS Jaganmohan Reddy and others on wednesday for money laundering under PMLA, 2002, based on the chargesheet filed against him by the CBI accusing Jaganmohan reddy of receiving huge amounts of money in bribes under the guise of investments in his companies from usinessmen in lieu of undue favours granted to them by the Andhra Pradesh Government, headed at that time by Jagan’s father late Y S Rajasekhara Reddy.

The Directorate of Enforcement attached moveable and immovable assets on wednesday valued at over Rs 749 crore belonging to YSR Congress Party chief Y S Jagan Mohan Reddy, under the Prevention of Money Laundering Act (PMLA).

The provisional attachment order to attach properties worth Rs 74910,42,560 was issued today and will take effect immediately.

ys jagan mohanreddy in trouble

The properties attached are

The palatial Lotus Pond residence of Jagan in Jubilee Hills.
Sakshi Towers in Banjara Hills having offices of Sakshi newspaper and TV Channel
Bharathi Cements
Sandur Power Project
903 acres land in Guntur
and in Hakimpet on the outskirts of Hyderabad.
The latest step by the ED is a major setback for Jagan which will be used by Andhra Pradesh chief minister and TDP chief N. Chandrababu Naidu who has already wooed 20 MLAs so far from the YSR Congress to boost his TDP strength.

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