Finance Minister Yanamala Ramakrishnudu has urged the CBI to re-investigate the corruption and money laundering cases against YSR Congress president Y.S. Jaganmohan Reddy in the light of the revelations in the Paradise Papers.
Addressing the media here on Sunday, the Minister said that Paradise Papers speak volumes of the economic offences allegedly committed by the Opposition leader.
The WikiLeaks and Panama Papers had pointed the finger at Mr. Jagan long ago, he said.
The Paradise Papers reveal fresh financial links in a CBI case against Mr. Jagan, the Minister said, adding, “At this juncture, it is appropriate that the Enforcement Directorate, the CBI, the Central Board of Direct Taxes (CBDT), the Finance Intelligence Unit (FIU) and the Reserve Bank of India (RBI) take cognisance of the Paradise Papers and investigate.”
It was proven beyond doubt that Mr. Jagan was benefited due to the shell and offshore companies during his father Y.S. Rajasekhara Reddy’s tenure as Chief Minister of Andhra Pradesh.
‘Quid pro quo deals’
“Evasion/avoidance, manipulation of the market, money laundering, and round tripping were some routes chosen by him. The untaxed money was taken out of the country and brought back as investments into his companies as quid pro quo for land concessions. Industrialists had invested as much as ₹1,000 crore in companies, newspaper, and channel owned by Mr. Jagan,” Mr. Ramakrishnudu alleged.
“It is ridiculous that Mr. Jagan, who brought disgrace to and tarnished the image of Andhra Pradesh, is speaking about clean politics. In fact, his very existence in politics is dangerous to democracy,” he said.
To avoid court cases and hush up his failure as Opposition leader, Mr. Jagan launched the padayatra, the Finance Minister alleged.
Mr. Jagan owed an explanation to the people on the phenomenal growth of his assets and properties, the Minister said.
