Jagan Mohan Reddy’s wife named accused in ED case

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Jagan Mohan Reddy

Jagan Mohan Reddy (Wife in Trouble): This is not the first time that someone so influential in the Indian subcontinent has been termed as corrupt. It is a term that has been associated with almost every business leader and politician in the country.

ED names Jagan’s wife in Raghuram Cements Case

 

Well, recently, the name added to the corrupt list is Y.S Jagan Mohan Reddy. For those who do not know what we’re talking about, here is the complete news.

There has been a case of illegal investments against YSR Congress president, Y.S Jagan Mohan Reddy. However, after investigations, the ED (Enforcement Directorate) has now been able to come up with the name of Y.S Bharathi as an accuse. She is none other than Y.S Jagan Mohan Reddy’s wife and has now been linked as the accused in the Raghuram (Bharathi) Cements case. The charge sheet has been prepared by a special CBI court of Hyderabad.

However, it not just Reddy’s wide who has been called an accused now. In fact, it’ll send shivers down your spice that she is one the 5th position. This implies that there are others as well in this long list. As per the charge sheet of the ED, the others are Y.S Jagan Mohan Reddy, V. Vijaya Sai Reddy, Bharathi Cements Corporation, J. Jagan Mohan Reddy, Silicon Builders, Sandur Private Limited. Classic Realty, Saraswati Power and Industries Private Limited along with 10 others.

It is rather interesting to note that Y.S Bharathi was not named earlier by either the CBI (Central Bureau of Investigation) or the ED and it is the first time that her name has surfaced.

Why ED Named Wife of Jagan Mohan Reddy in Latest Charge Sheet?

Jaga Mohan Reddy 

The Enforcement Directorate registered a case against Y.R Jagan Mohan Reddy and the other people, involved in the Raghuram Cements case of 2013. Also, it has attached all the properties of Reddy and the others of a whopping amount of 750 crores. This attachment also includes the fixed deposits that are in the name of Bharathi Reddy. This has been possible under the Prevention of Money Laundering Act.

ED says that there were money transactions found in the Raghuram Cements deal, made in the name of Bharathi Reddy. Allegedly, the funds were routed into the company of the Raghuram (Bharathi) Cement through the aid of Sandur Power, Caramel Asia Limited and other organizations with the use of Hawala routes. Furthermore, the ED has appealed to the special CBI court to punish the accused under Section 3 of the Prevention of Money Laundering Act.

Then after, Jagan was asked for his statements on the matter. He says that he is indeed shocked that his wife has been named as an accused by the ED. He is hurt and felt sad to witness such a situation when politics is going down to such a level in the nation that even  it is distressing to the families now. That’s all he said but the masses may definitely not overlook the allegation that there were investors who had given in to the company only because they were given certain privileges by the then Dr Y S Rajashekar Reddy government.