Will richest MP Jagan escape from assets case?

Written by: Ria
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YS Jagan Mohan Reddy
Hyderabad, Apr 2: The country's richest MP Jagan Mohan Reddy held a rally, on Sunday, Apr 1, a huge crowd gathered in Hyderabad, boosting the accused MP that shows his power in the state. The investigating agency, Central Bureau of Investigation (CBI) has filed chargesheet againt Jagan and 12 others in the disproportionate assets case. Will Jagan's fate take him to jail like DMK leader Kanimozhi, accused in 2G spectrum scam? or Will his influence help him to escape from CBI's clutch? [Read: AP: How does Jagan Mohan Reddy land in assets scam case?]

Defending himself, Jagan said "I am being made a scapegoat just because my father is no longer alive...You are actually trying to malign someone who is no longer alive...This is dirty politics," Jagan slammed the major political party Congress and asked the authority that why CBI has not named any Congress leader in the chargesheet.

It has been reported that CBI is likely to file more chargesheet against him. Jagan has been charged in the case followed by his financial advisor Vijay Sai Reddy and sacked IAS officer BP Acharya.

Jagan had started his business venture by bagging a contract of Rs 25 crore for mini-hydroelectric projects in Andhra Pradesh, Karimnagar, Karnataka and Shimoga. According to the media reports, Jagan's wealth has drastically increased once his father became the Chief Minister of Andhra Pradesh. In 2009, he declared an assets worth Rs 77.40 crore.

Last year CBI found Jagan's Lotus Pond residence on 5,807 square yards of land in Hyderabad worth Rs 85 crore. It has been found that Jagan has bagged a movable assets of Rs 50 crore and an immovable assets worth Rs 22 crore.

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