The Central Bureau of Investigation (CBI) has informed a court here on Friday that it will shortly close investigation in the Emaar township scandal as the probe about the end use of money collected by accused from villa plot buyers was nearing completion.
Focus on missing links
Balla Ravindranath, counsel for the investigating agency, told the court during arguments on the bail petition of Trimex Group chairman Koneru Prasad, who is an accused in the case, that the probe was presently focussed on some missing links.
The CBI was trying to ascertain who all had remitted Rs. 35.75 crore in cash in the accounts of N. Sunil Reddy, former aide of Kadapa Member of Parliament Y.S. Jaganmohan Reddy.
Mr. Sunil Reddy received a total of Rs. 45.21 crore in the bank accounts of his companies from villa plot buyers, of which Rs. 35.75 crore came in cash.
Mr. Koneru Prasad purchased a property of Rs. 2.5 crore from the amounts received from buyers. This was also to be probed.
E. Uma Maheswara Rao, counsel for Mr. Prasad, said his client had suffered seven months of imprisonment which was a long punishment in a case where there was no prima facie evidence of illegality.
