Y. S. Jaganmohan Reddy - Corruption Charges

Corruption Charges

In the wake of two preliminary reports submitted by the CBI on petitions filed by senior state Congress minister P. Shankar Rao and Telugu Desam Party leader Yerran Naidu, and affidavits filed by certain investors.

It has repeatedly been alleged that while his father was Chief Minister, he amassed wealth by such tactics as pressuring companies to "invest" in his businesses in return for various favours from his father's government, one of a major one is "Rs 1 Lakh crore through land doles costs Andhra as per CAG On August 10, 2011, the Andhra Pradesh High Court ordered a thorou­gh investigation by the Central Bureau of Investigation into these allegations. YSR Congress allege that Jagan is being politically victimized and the CBI is acting on behest of the Congress and it is clear case of political vendatta.

The CBI officials launched country-wide searches on his offices and residences on 18 August 2011, following the High Court Order. In an illegal asset case linked to Y S Reddy, Andhra excise minister Mopidevi Venkataramna was arrested on 24 May 2012. In connection with the Jaganmohan Reddy's disproportionate assets case, CBI summoned BCCI chief Mr N Srinivasan on 7 June 2012. The Andhra Pradesh High Court rejected Reddy's bail plea on 4 July 2012 in the alleged disproportionate assets case. As a sequel to allegations that CBI had selectively released information to the press to tarnish the image of Jaganmohan Reddy, the Central Vigilance Commissioner sought a report on the matter from the investigating agency.

On 27 May 2012, he was arrested by the Central Bureau of Investigation over the charges of embezzlement and has been remanded to Judicial custody till 11 June 2012 in a disproportionate assets case. His bail plea has been rejected and his custody has been extended till 18 July. The Supreme Court dismissed his petition on 9 August 2012, challenging his arrest in the disproportionate assets case.