CBI begins second phase of Jagan investigation

CBI joint director V V Lahminarayana told reporters on Thursday that with the completion of search and seizure of documents  from all 91 locations in the country, the CBI had formed six divisions each headed by one DIG to pursue the task of interrogation.

He has also procured few more searches and seizure warrants from the CBI designated court to probe the money laundering and quid pro quo charges on Jaganmohan Reddy.
In all eight special task teams were functioning – seven for Jagan and one for EMAAR case.  Five DIGs of the CBI from Chennai, Mumbai, Bangalore, Delhi and Visakhapatnam have been roped into the probe.

“They will scrutinize and study the hard disks, documents, balance sheets etc.,”said a CBI official.

The CBI on Wednesday began questioning Principal Secretary (Home) B P Acharya   and 12 others in two cases relating to the assets of Jagan and irregularities in EMAAR project.
Acharya, an IAS official, was managing director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) when Emaar diluted APIIC’s equity in the joint venture, causing huge loss to the state exchequer.

The CBI officials were also questioning 12 others including representatives of Jagati Publications owned by Jaganmohan Reddy and the other firms which invested in his businesses.

The FIR booked against Jagan and 71 others said he conspired with his father who doled out favours to several companies which invested in Jagan’s businesses.

The multi-disciplinary investigation team (MDIT) of CBI continued to digitise the documents seized during searches last week at the residences and offices of Jagan and investors.

The MDIT is analysing the bank accounts, income tax returns and other financial transactions. It is likely to call more people for questioning before starting collection of evidence.

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