ED registers money laundering case against Jagan

The case has been filed days after CBI searched various premises belonging to YSR Congress chief.

The Enforcement Directorate(ED) has registered a money laundering case against estranged Congress leader Y S Jaganmohan Reddy,his associates and builder Emaar-MGF,days after CBI had searched various premises belonging to him.

The case was registered after ED conducted a probe to trail the funds pumped by the MP and son of former Andhra Pradesh chief minister Y S Rajasekhara Reddy and his associates into the companies owned by them,ED sources said today.

The agency,according to sources,is expected to speed up the probe in this case and register separate cases under foreign currency exchange laws,making the CBI chargesheet in this case as the basis for its action.

CBI has already registered a case against Reddy on the direction of Andhra Pradesh High Court under relevant sections of the IPC pertaining to cheating,criminal conspiracy,criminal breach of trust and also under provisions of Prevention of Corruption Act.

It had on August 18 searched the premises of Reddy,his associates and Emaar-MGF at Hyderabad,Bangalore,Chennai,Kolkata,Rajkot,Delhi and Mumbai in this connection.

“CBI has registered a case… against a Member of Parliament from Andhra Pradesh,and others,on the orders of High Court of Andhra Pradesh… on the allegation that the investors invested in the companies owned and promoted by the MP at very high premiums as a quid pro quo for the favours doled out by the then chief minister of Andhra Pradesh,” CBI had said earlier.

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