Jagan Mohan Reddy's property worth Rs 148 crore has been seized

The Enforcement Directorate has seized assets worth Rs 148 crore in connection with illegal transfers of money against YSR Congress leader Jagan Mohan Reddy and others.This includes 11,800-acre property worth Rs 148 crore illegally distributed to former Andhra Pradesh Chief Minister YSR Reddy.

YSR's son YSR Congress chief Yogan Mohan Reddy has invested Rs 780 crore in Andhra Pradesh businessman Nagaradhi Prasad, who has invested in assets worth Rs 780 crore against property distribution, sources said. The money was confiscated under the Immigration Transfer Regulation Act (PMLA), "the enforcement directorate said.

In 2014, the Joint Directorate of Jagan and his companies had seized a property worth Rs 538 crores by the Enforcement Directorate. The assets worth Rs 325 crore belonging to Prasad and his companies were also seized.