ED to probe ‘money laundering’ by Katta

Jun 07, 2012 |

Bengaluru

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The Enforcement Directorate (ED) has stepped in to investigate alleged cases of money laundering by former minister Katta Subramanya Naidu and his son Katta Jagadish. ED officials on Wednesday filed an application before the Lokayukta special court to question two accused – S. Jaggaiah and B.L. Venkaiah.

Lokayukta special court judge N.K. Sudhindra Rao sought an explanation from investigating officer DySP Girish and later granted permission to ED to question the accused in the prison for two days. The Lokayukta police arrested the accused from Tirupati and produced them before the Lokayukta special court on May 2. The police, investigating the KIADB scam, alleged that after the KIADB sanctioned 325 acres of land in Bandikodigehalli to Itasca, United Telecom bought shares worth Rs 300 crore from Itasca. Later, an alleged kickback of Rs 87 crore was credited into the account of Indu Builders and Developers. The police say Jaggaiah and Venkaiah were signatories of Indu Builders bank account. The duo worked at Soubhagya Petrol Bunk, owned by Katta’s wife. Indu Builders gave the address of the petrol bank while registering the company.

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