Hyderabad Kadapa MP Y S Jaganmohan Reddy, who made a stunning rise in politics after rebelling against Congress, was on Sunday arrested by the CBI in a disproportionate assets case.
The arrest of 39- year- old Jagan came after three days o
f intense grilling by the CBI and comes just ahead of byelections to 18 Assembly seats and one Lok Sabha seat in the state.
‘CBI arrested Jaganmohan Reddy at 7.15 PM,’CBI spokesperson said. Agency officials said the Jagan was questioned for three consecutive days and his answers to certain investments made by a few companies to Sakshi television abd Jagriti publications, owned by him, were not convincing.
CBI officials said Jagan was arrested for allegedly amassing assets disproportionate to his known sources of income. Some routing of funds have been detected from tax havens like Mauritius and Isle of Mann, indicating that there were quid pro quo investments in his TV channel and publication by some companies which were given land in the much sought CONTD. ON P6 Jagan Mohan Reddy arrives at CBI office in Hyderabad. PTI