December 22, 2016
Chennai: The Central Bureau of Investigation (CBI) on Thursday arrested four more associates of sand mining baron and businessman Shekhar Reddy on charges of money laundering. Those arrested today include Premkumar, whose house was also raided by the Income Tax department officials on 8 December along with the residences of Shekhar Reddy and his relative Srinivasulu Reddy. Two others were identified as Rathinam and Ramachandran, while the fourth is said to be a businessman in Kolkata.
All the three held in Chennai were produced before a CBI court and remanded in judicial custody till 4 January. They were later lodged in Puzhal Central Prison. The arrest of the three in the city comes a day after the CBI arrested Shekhar Reddy and Srinivasulu Reddy here. The duo was arrested nearly 10 days after the I-T department seized a staggering Rs 131 crore cash and 177 kg of gold jewellery post-demonetisation and remanded in judicial custody till 3 January.
The arrest comes after the CBI and the Enforcement Directorate (ED) registered cases against them on charges of money laundering, amassment of wealth, cheating, criminal conspiracy under the Prevention of Corruption Act. The petition filed by the CBI seeking custody of the duo for extensive interrogation and the bail petition filed by the duo was expected to be taken up for hearing tomorrow.
Recently, acting on specific information, the I-T department conducted raids at the office and residential premises of Shekhar Reddy, Srinivasulu Reddy and Prem, and seized Rs 131 crore cash, including Rs 34 crore in new Rs 2,000 currency, and 177 kg gold and property documents worth several crores. Shekhar Reddy was sacked as the Trustee of the Tirumala Devasthanam Board (TTD) following the seizures.