Now CBI say YSR indulged in Sytematic looting !

published on August 22, 2011

YSR, Jagan Mohan indulged in systematic looting, says CBI
Raman Kirpal – First Post

Former Andhra Pradesh Chief Minister late YS Rajasekhara Reddy and his MP son YS Jagan Mohan Reddy indulged in ‘systematic looting’. They leased out mines and prime land in the state, allowed cement manufacturers to draw millions of gallons of water from the Krishna and provided several concessions to private industries in exchange of benefits. A part of the illicit money was laundered through the Mauritius route, according to the FIR filed by the CBI in connection with wealth amassed by Jagan.

The two writ petitions, which are now part of the CBI FIR, rip apart the father-son duo and give point-by-point details on how the two allegedly adopted ‘several ingenious ways’ to amass wealth.

The CBI has slapped charges of criminal conspiracy, cheating, criminal breach of trust, falsification of accounts and criminal misconduct against Jagan and several others. There can be no case against his father, because he is no more.

Jagan used his father’s influence as Chief Minister between 2004 and 2009 to get into shady deals, according to the FIR. He allegedly floated 36 companies, including M/s Sandur Power Company, M/s Carmel Asia Holdings Private Ltd, M/s Silicon Builders Private Ltd, M/s Jagathi Publications Private Ltd, M/s Indira Television Private Ltd and M/s Raghuram Cements Ltd, subsequently renamed as M/s Bharathi Cements, says the FIR.

See it for yourself:

• Jagan raised Rs 797 crore through M/s Sandur Power Company. How?

Read full report at




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