Vijay Sai Reddy Remanded Till 17 Jan
Vijay Sai Reddy has been taken into custody after 9 hours of questioning by the police, in connection with Jagan's illegal assets case.
Hyderabad | 3rd January 2012
A city court, on Tuesday, remanded, till 17 January 2012, the Vice-chairman of Jagathi Publications, Vijay Sai Reddy.
He was taken into custody after 9 hours of questioning by Superintendent of Police H Venkatesh, on Monday, in connection with the alleged disproportionate assets case of Kadapa MP Y S Jaganmohan Reddy.
He has been charged under sections 120 B (criminal conspiracy), 420 (cheating), 409 (criminal breach of trust by a public servant) and 477 (A) (falsification of accounts) of the IPC, and section 13 (2) read with 13 (1) D of the Prevention of Corruption Act.
After the arrest, the CBI searched Vijay Sai Reddy's house in Filmnagar, and the Jagati Publications office in Banjara Hills. Later, he was taken to the Krishna Sindhu Residency in Banjara Hills.
The CBI, in its FIR, named Vijay Sai Reddy, financial advisor for several companies owned by Y S Jagan Reddy, as the second accused in the case.
The CBI has also alleged that the first accused, Y S Jagan, conspired to roll out public assets to private investors and acquired investments for his companies, on a quid pro quo basis. Vijay Sai Reddy has been accused of being an accessory to the illegal transactions.
Vijay Sai Reddy was questioned over 40 times, within the last 5 months, in connection with Y S Jagan Reddy's alleged illegal assets case. (INN)
filed in: CBI, V Vijayasai Reddy, Jagathi Publications, Sakshi, Sakshi TV, Y S Jagan Mohan Reddy