ED raids on Jagan’s Suitcase Company

Looks like a big trouble is brewing for Opposition Leader, YS Jagan Mohan Reddy. On one side, CBI has filed for the cancellation of Jagan’s Bail Petition and now, ED has raided about 300 shell companies including those belonging to the Opposition Leader.

[m9ad]

ED itself has informed this in Twitter and informed that they are looking into the Modus Operandi of these companies. There is one Rajeswar Exports Company in Jagan which is said to be a suitcase company of Jagan. Buzz is that about 1400 Crore money laundering happened through this company.

Several Important documents of the company were seized. The Company MD was already arrested by ED earlier in February and he is being questioned to prove the links with Jagan Mohan Reddy. This will only mean more trouble for Jagan from here.