The Enforcement Directorate sleuths on Saturday conducted searches at the shell companies linked to AP's Opposition leader and YSRCP chief YS Jagan Mohan Reddy. The raids are being conducted at Rajeshwar Exports and others allegedly related to Jagan.Â "ED searches at shell companies related to Y S Jagan Reddy Rajeshwar Exports & others to unearth their modus operandi," ED tweeted confirming the development.
Earlier in June 2016, ED has attached Jagan Reddy's assets worth Rs 749 Crore after its detailed probe under the Prevention of Money Laundering Act (PMLA).
"During investigations under PMLA, the proceeds of crime involved in money laundering were identified in the form of movable (Rs 404,72,32,182) and immovable properties (Rs 344,38,10,378) totally valued at Rs 749.10 crore," the ED had said in the order. These attached properties are spread across Telangana, Andhra Pradesh and Karnataka.
Meanwhile, recently, the CBI has asked it special court to cancel Jagan's bail accusing him of trying to 'influence' the witnesses in Disproportionate Assets case. Jagan is expected to file a counter before April 7. In between, the fresh searches of ED has come as a fresh headache to Jagan.
Also, it can be noted that the ED has recently told the Supreme Court that it is in favour of barring criminals, convicted entering into legislature and said it'd support the life-time ban on convicted to enter legislative houses.