ED attaches Rs 863 cr assets of Jagan, others for laundering

August 19, 2014 22:42

A special anti-money laundering court here today attached properties worth Rs 863 crore of YSR Congress leader Jaganmohan Reddy and his associates in connection with its probe into alleged corruption and money laundering in an infrastructure project in Andhra Pradesh.

The court's orders came on a notice of the Enforcement Directorate, issued in March, in which it had slapped separate notices against Jagan and Nimmagada Prasad whose companies were allegedly favoured by the then Andhra Pradesh government (when Jagan's father Y S Rajasekhara Reddy was chief minister) in the Vadarevu and Nizampatnam Industrial Corridor (VANPIC).

The project's aim was to develop sea ports and a green field airport in coastal areas of the southern state and industrial corridors in Prakasam and Guntur districts. The current order, under the Prevention of Money Laundering Act, has been the largest order for attachment of assets in this case.

The ED had in 2012 registered a criminal probe against the individuals and associated firms based on a CBI FIR in this case.

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