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ED ratifies money laundering charges on NRI Academy

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ED ratifies money laundering charges on NRI Academy

The Enforcement Directorate on Wednesday ratified the AP police charges of money laundering against the NRI Academy of Medical Sciences. The ED, which conducted searches in the NRI Academy office at Mangalagiri in Guntur district for two days, had announced that it had seized some cash and important documents on misuse of funds and violation of rules.

The ED in an official release said that they have seized several important documents from the NRI Academy which ratify the money laundering allegation. They have also found diversion of funds from the NRI Academy to a private firm floated by some of the members.

The ED officials said that the NRI hospital had provided treatment to the Covid 19 patients, and the money collected was not properly accounted for. The money collected was huge while the entries shown had a nominal amount, the ED said.

It was also observed that the college was collecting huge amounts of money for admissions into the MBBS courses. However, the collected amounts were not shown in the account books, the ED announced.

The ED further said that they have seized 53 documents to prove the money laundering charges against some members of the Academy. What is more interesting is that some members have diverted the funds of the Academy without proper accounts.

The ED had collected evidence to prove these charges framed by the State police against some individuals. The ED also seized some cash from the Academy during the raids, the official release said.

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ED attaches Hyd-based jeweller’s assets in gold smuggling case

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ED attaches Hyd-based jeweller’s assets in gold smuggling case

The Enforcement Directorate (ED) has attached assets worth Rs 25.28 crore belonging to Hyderabad-based jeweller Sanjay Agarwal, Radhika Agarwal and Preet Kumar Agarwal in a case related to smuggling of gold originally meant for export.

According to an ED statement issued on Wednesday, the attached assets include residential villas and 54 Kg gold.

The ED had launched a money laundering probe after the Directorate of Revenue Intelligence (DRI), Kolkata, had registered a case under the provisions of Customs Act, 1962, for smuggling of gold and diverting the same to the domestic market.

Search operations by the ED in Hyderabad on March 9 and July 19 this year had resulted in the siezure of incriminating documents that revealed acquisition of properties by the accused persons in the name of their associates, the note stated.

During the investigation by ED, it was revealed that the gold procured duty-free from nominated agencies such as MMTC and the state trading corporation, and meant to be exported, was diverted to the domestic market by Sanjay Agarwal with the active connivance of his relatives and other associates.

Earlier, the ED had arrested Preet Kumar Agarwal in this case for his active role in money laundering activities. A special court (PMLA) in Kolkata has issued non-bailable warrants against the other accused persons, namely Sanjay Agarwal, Radhika Agarwal, Ajay Kumar Agarwal and Avinash Soni.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Jagan blames “Yellow media” for stories on him topping ED list

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Jagan blames “Yellow media” for stories on him topping ED list

YS Jagan blames Yellow media

ED has recently drawn up a list of top money launderers and the shell companies used by them to do money laundering into and out of the country. The list includes some top politicians of the country including YS Jagan. This news was first published in national media and the excerpts of the article were later republished in local media. Obviously, being leaders from opponent party, TDP leaders highlighted this news and made comments on Jagan. But Jagan’s Sakshi now published an article blaming this is nothing but “Yellow media’s” attempt to malign Jagan’s image .

Elaborate article in Sakshi published today reveals that this is all done as per a preconceived master plan. As per the plan, yellow media (referring to, probably Andhra Jyothy and Eenadu) publishes the news without any proofs and then ruling party leaders use that story as basis and makes further scathing comments on Jagan. Then, the same yellow media highlights these statements to further damage YSRCP’s political prospects. Sakshi also reiterates this ED list of “toppers” is a fake news cooked by Yellow media and there is no such list published in ED website. Sakshi also remarks, this is not new and yellow media is doing the same since Jagan came into political arena. In fact Chandrababu met Chidambaram in the dark and conspired to make sure Jagan will be in Jail.

However, Sakshi story conveniently ignored a few facts in this story.It is not the local Telugu news papers that published the news first. It was published in national media which Telugu media republished. Also Sakshi’s main argument that the story is fake is based on the fact that ED website never published any such list. The original article never mentioned that the news was published in their website. Also, ED’s website is to provide the info to public about their institution but not to keep the details of the cases they are handling. Moreover, Sakshi has been writing for last several years that Chandra Babu met Chidambaram in the dark. Even in today’s article too they mentioned the same but Sakshi never proved or showed evidence on that. So if writing something without being able to prove publicly is the attribute of “Yellow media” (as Sakshi defines it), even Sakshi also will become yellow media with this kind of propaganda. Sakshi also tried to explain the shell companies allegation with its regular logic. But people are not buying Sakshi’s argument in this aspect as they have seen Jagan’s I-T filings growing exponentially each year since 2004.

Anyway, until court either absolves or convicts Jagan, these kind of stories are expected to continue in the media……

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Jagan becomes one of the toppers, but this one embarrasses him.

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Jagan becomes one of the toppers, but this one embarrasses him.

The Directorate of Enforcement (ED) is the law enforcement agency and economic intelligence agency comprising officers from the Indian Revenue Service, IPS and IAS. It is responsible for enforcing economic laws and fighting economic crime in India. ED has recently drawn up a list of top money launderers and the shell companies used by them to do money laundering into and out of the country. The list includes some top politicians of the country including YS Jagan.

Topper the list is one Afroz Mohammed Hasanfatta and Madanlal Jain of Surat who laundered money to Dubai and Hong Kong. Together the duo allegedly laundered Rs 5,400 crore through 30 shell companies. NKS Holdings Pvt Ltd of Delhi is second on the list and allegedly laundered Rs 3,790 crore using 95 shell companies.

The politicians in the list include Jagan Mohan Reddy of YSR Congress who is accused by the agency of laundering at least Rs 368 crore through 31 shell companies linked to him and his associates. The other prominent politician is Chhagan Bhujbal, NCP leader and former deputy CM of Maharashtra, who is being investigated for allegedly laundering Rs 200 crore using 81 shell companies. Jagan stood at 10th place in the list.

List includes not only politicians and business companies, it alsi includes beuracrats. An IAS officer, Babulal Agarwal, also figured on the list. Agarwal, former Chhattisgarh principal secretary, is accused of laundering Rs 60 crore through at least 13 shell companies.

While Jagan is doing Padayatra to gain public support, his name surfacing frequently in these kind of reports is definitely an embarrassment for him. Couple of weeks back, Paradise papers created sort of tremors in the state as his links were mentioned .

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Jagan Case : ED attaches Rs.148 crore land !

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Jagan Case : ED attaches Rs.148 crore land !

The Enforcement Directorate (ED) on Friday attached 11,805 acres of land worth Rs 148 crore allotted to industrialist Nimmagadda Prasad by YSR Congress chief Y.S. Jaganmohan Reddy when his father was the Andhra Pradesh Chief Minister.

This formed part of the ED probe against the YSR Congress leader in an illegal assets case, an official statement said.

The agency said the attached land was illegally allotted to the companies of Prasad in Prakasam and Guntur districts.

“This is a quid pro quo investment case where Prasad, various companies and individuals made huge investments in companies floated by Reddy for the favours received from erstwhile Andhra Pradesh government by way of allotment of land for development of port and industrial corridor, exemption under Urban Land (Ceiling and Regulation) Act,” the statement said.

Jagan, as he is popularly known, was arrested by the Central Bureau of Investigation (CBI) in May 2012 in the case. He spent 16 months in jail before getting bail in September 2013.

He is currently the Leader of Opposition in Andhra Pradesh.

The CBI has filed 11 chargesheets in the case against Jagan, his aides, former state ministers, IAS officers, corporate entities and businessmen.

The case relates to alleged investments made by private firms and individual investors in Jagan Reddy’s companies in return for favours they received when his father Y.S. Rajasekhara Reddy was Chief Minister between 2004 and 2009.

Based on a CBI chargesheet, the ED launched a probe under the Prevention of Money Laundering Act and found that Prasad allegedly paid bribes to Jagan Reddy in the form of investments totalling about Rs 779.50 crore in the latter’s companies, Jagati Publications Ltd, Carmel Asia Holdings Pvt Ltd, Bharathi Cement Corp Pvt Ltd and Silicon Builders Pvt Ltd.

Investigators in the ED said Prasad also paid Rs 57 crore to Jagan Reddy on the pretext of secondary purchase of shares and donation of Rs 7 crore to the YSR Foundation.

In lieu of the alleged bribes, Prasad was “illegally” awarded the project for the development of the Vadarevu-Nizampatnam Port and Industrial Corridor by allegedly deviating from standard norms and without even examining the technical or financial capabilities, the ED revealed.

Prasad got orders for allotment of land to the extent of more than 18,700 acres in the name of his goup company, Vanpic Projects Pvt Ltd, which allegedly had no responsibility for project development, another ED official said.

Prasad’s companies started payments to farmers and the departments even before the issuance of government orders for land allotments. “Considerations were paid for 13,220 acres.”

In the same case, the ED had earlier attached Rs 538 crore assets of Jagan Reddy and his companies and Rs 325 crore worth assets of Prasad and his companies, including 1,416 acres of land from Vanpic Projects Pvt Ltd and Vanpic Ports Pvt Ltd.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

ED files another chargesheet against Jagan

Naveena
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ED files another chargesheet against Jagan

Trouble always loiters around for YSRCP chief Jagan Mohan Reddy. Enforcement Directorate (ED) filed another charge sheet in the court against Jagan pertaining to the Penna Cement case. ED mentioned Vijaya Sai Reddy and Penna Pratap Reddy along with Jagan as accused. It alleged the accused of money laundering.

This is 12th charge sheet against the Andhra Pradesh Opposition leader. The CBI filed 11 charge sheets so far in the quid pro quo case that is also referred to as his disproportionate assets (DA) case. Vijaya Sai Reddy was in jail for 16 months along with Jagan in money laundering case in 2013.

In the previous charge-sheets, CBI had alleged that Penna group MD, Pratap Reddy, had paid bribes to Jagan in the guise of investments in his companies.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

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