YSR Congress Party President YS Jagan Mohan Reddy and his financial advisor Vijay Sai Reddy appeared before a metropolitan criminal court in the illegal assets case. The Directorate of Enforcement registered a case under the provisions of Prevention of Money Laundering Act (PMLA).
Interestingly, the case runs in to several thousands of Crores and the court asked the two to just submit personal surety bonds of Rs 20,000. Usually bonds are asked as personal guarantee to make sure the accused attends the court. In this case, we do not get to know how a bond of 20,000 can influence the accused in such high profile case.
The next hearing of the case is posted for June 3rd. The Enforcement Directorate filed a charge-sheet after investigating one of the 11 quid pro quo cases registered by CBI and attached fixed deposits worth Rs. 34.66 crore belonging to Jagati Publications. It is known to our readers that allegations are on that Jagan had amasses huge wealth through quid-pro-quo when his father was in power.
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