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CBI arrests industrialist Prasad, IRS officer in Jagan case
Wednesday May 16, 2012 09:01:26 AM,
IANS
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Hyderabad: The Central
Bureau of Investigation (CBI) Tuesday night arrested prominent
industrialist Nimmagadda Prasad and Indian Revenue Services (IRS)
officer Brahmananda Reddy in the case relating to alleged illegal
assets of YSR Congress Party leader Y.S. Jaganmohan Reddy.
The arrests were made after the CBI officials questioned them
throughout the day. CBI Joint Director V.V. Lakshminarayana told
reporters that they would be produced in the court Wednesday.
The official said they were arrested on the basis of evidence
found against them in the investigation into concessions given to
Vadrarevu and Nizampatnam Port and Industrial Corridor (VANPIC).
"We need to interrogate them further," he said.
Prasad, popularly known as Matrix Prasad in the industrial
circles, is the 12th accused in the case.
The CBI officials also raided the residence of Brahmananda Reddy,
who was special secretary, infrastructure and investment in the
government of Y.S. Rajasekhara Reddy. He allegedly issued
government orders benefiting companies which invested in the
businesses of Rajasekhara Reddy's son Y.S. Jaganmohan Reddy.
The second and third accused to be arrested in the case, Prasad
and Brahmananda Reddy have been charged with cheating, criminal
conspiracy, criminal breach of trust and falsification of
accounts.
Prasad allegedly invested Rs.504 crore in the companies of
Jaganmohan Reddy in return for the favours he reportedly received
from his father and then chief minister Y.S. Rajasekhara Reddy.
Prasad's Matrix Enport is one of the two promoters of VANPIC. The
government of Rajasekhara Reddy had allotted 5,500 acres of land
to VANPIC in Prakasam and Guntur districts.
The CBI made the arrests as it is gearing up to file fourth charge
sheet in Jaganmohan's disproportionate assets case. Prasad and
Brahmananda Reddy are likely to figure in the charge sheet.
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