ED attaches Rs 117.74 cr assets in Jagan's PMLA case

Hyderabad: Enforcement Directorate (ED) on Wednesday attached assets worth Rs 117.74 crore in connection with Prevention of Money Laundering probe in cases related to YSR Congress President Jagan Mohan Reddy and others.ED attached movable and immovable assets worth of Rs 117.74 crore under the PMLA (Prevention of Money laundering Act) of companies of I. Syam Prasad Reddy, Indu Projects, Embassy Property Developments and Vasantha Projectrs in Indu-APHB case related to Jagan, the agency said.

A provisional attachment order under the PMLA was issued by the central probe agency's zonal office here.The ED began its probe against the politician and his associates on the basis of a FIR by the Central Bureau of Investigation (CBI) that stated since “May 2004, Jagan floated number of companies wherein quid pro quo investments have been made by beneficiaries from decisions of  the state government in various forms like SEZs (Special economic Zones), irrigation contracts, relaxation/permission for real estate ventures, mines among others. (UNI)