NEW DELHI: Kadapa MP Jagan Mohan Reddy allegedly laundered more than `2,500 crore by legitimising the transfer of money through his political nexus, as per the First Enforcement Case Information Report (ECIR), an equivalent of the FIR, filed by the ED.The ECIR said the late YS Rajasekhra Reddy, during his stint as chief minister of AP, abused his public office to benefit his son Jagan. As many as 12 industrialists and Jagan’s associates, including G Srinivasa Raju, K Srinivas Naidu, K Prasad Reddy, D Srinivasulu Reddy, and Vijay Sai Reddy are facing the ED heat in the case. Sources said the ED may also attach the property of the accused.“Instead of stashing his huge black money abroad, Jagan allegedly used his father’s clout and forced companies benefited by the state to pick shares in companies linked to him,” sources said. The ED is on the trail of individuals and companies who shared the booty by floating 22 mail box companies. “The beneficiaries, in turn, have given bribes to Jagan in the guise of purchasing shares,” reveals the ECIR.
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