The CBI has alleged that Kadapa MP Y.S. Jaganmohan Reddy conspired with his father late Y.S. Rajasekhara Reddy and other individuals and companies to 'cheat the government of Andhra Pradesh in the matter of granting certain favours'.
In its FIR in the case related to Jagan, a copy of which was filed in a special court here, the CBI charged that he 'exercised his influence' on his (late) father, then chief minister, and also 'unknown public servants' of the state government, who in turn abused their official positions by corrupt or illegal means and issued orders favourable to many companies.
The charges relate to criminal conspiracy, cheating, criminal breach of trust, falsification of accounts and criminal misconduct, according to the FIR.
"As a quid pro quo, those companies, other unknown companies and unknown persons invested several crores of rupees in Jagati Publications, Sandur Power Company Limited, Carmel Asia Holdings, Bharathi Cement Corporation Ltd and other companies promoted by Jaganmohan Reddy at a huge premium," the CBI FIR said.
The agency filed the case against Jagan and others based on a directive of the Andhra Pradesh High Court that disposed of a petition filed by current Textile Minister P Shanker Rao, into which TDP leaders K. Yerran Naidu and Yanamala Ramakrishnudu impleaded.
The 28-page FIR listed Jagan, now president of YSR Congress, as number one accused followed by V. Vijay Sai Reddy, vice-chairman of Jagati Publications.
In all, the FIR named 72 companies and individuals besides directors, promoters of unknown companies, unknown public servants of the state government and 'unknown others' as accused in the case under IPC Sections 120 (B) read with 420, 409, 420 and 477 (A).
CBI has been conducting searches since yesterday in the residences and offices of Jagan apart from the houses and businesses of those who invested in his companies.