Journalism of Courage
A special PMLA court here has issued orders for attachment of fixed deposits worth over Rs 34 crore of a media firm owned by YSR Congress leader Jaganmohan Reddy,identifying them as proceeds of crime of money laundering. The order of the Adjudicating Authority of the anti-money laundering Act came after the Enforcement Directorate,in May this year,had issued attachment orders on the fixed deposits of Rs 34.66 crore. These FDs were allegedly kept in a Hyderabad branch of Oriental Bank of Commerce in the name of Jagati Publication Limited,a firm owned by the MP from Kadapa. We come to the prima facie conclusion that the defendants have committed the scheduled offences,generated proceeds of crime and laundered them, the bench said in its order.
