After featuring in the recently leaked Paradise Papers, YSRCP President YS Jaganmohan Reddy has found his name in yet another dubious list. This time, Jagan featured in the list of Top money launderers in India.
The Enforcement Directorate has announced the list of Top money launderers in the country, and Jagan has achieved All India 10th rank. He is accused of laundering at least Rs 368 crore through 31 shell companies (firms that exist only on paper, and used to hoard unaccounted money) linked to him and his associates. Jagan is the only South Indian to feature in this list of top money launderers, one heck of a record, isn’t it?
Will these accusations by the Top Indian sleuths make an impact on Jagan’s political ambitions?
The only other politician to feature in the list is Chhagan Bhujbal, the NCP leader and former deputy CM of Maharashtra has allegedly laundered Rs 200 crore using 81 shell companies.
Afroz Mohammed Hasanfatta and Madanlal Jain of Surat have topped the list, They remitted money to Dubai and Hong Kong through forged bills of entry. Together, the duo have allegedly laundered Rs 5,400 crore through 30 shell companies.
Delhi based NKS Holdings Pvt Ltd is second on the list. It allegedly laundered Rs 3,790 crore using 95 shell companies. The NKS Holdings accepted black money of “clients” and converted it into share premium through shell companies to make them look like legitimate business transactions.