Within hours of returning from his holiday trip in Europe on Wednesday, YSR Congress party president Y S Jaganmohan Reddy received a rude shock with the Enforcement Directorate attaching his movable and immovable properties worth Rs 749 crore on the charges of money laundering through his group companies.
While immovable properties are worth Rs 344.38 crore, the movable properties including fixed deposits in banks in the name of his wife Bharati and others were to the extent of Rs 404.72 crore.
The ED authorities alleged that Jagan had resorted to money laundering through his group companies including Sandur Power, Classic Realty, Silicon Builders, Saraswati Power and Industries and 10 others in the form of investments, purchase of movable and immovable properties, third party payments etc.
Apart from these, Bharati Cement Corporation promoted by Jagan had received benefits in the form of lime stone, which is mined from the mines allotted to it in Kadapa district, illegally by the then Andhra Pradesh government. The value of lime stone works out to more than Rs 152 crore.
