The Central Bureau of Investigation on Tuesday arrested N. Sunil Reddy, kith of Kadapa MP Y.S. Jagan Mohan Reddy, in the Emaar-APIIC scam based on statements of Stylish Homes’ director Mr Tummala Ranga Rao.
Confirming the arrest, CBI Joint Director V.V. Lakshminarayana said, “He will be produced before the Special Judge’s Court for CBI cases on Wednesday.”
Mr Ranga Rao apparently confessed in his statement that following the instructions of Mr Koneru Prasad, one of the main accused in the case, he had paid Mr Sunil Reddy Rs 80 crore. Mr Ranga Rao’s statement had been recorded under 164 CrPc in a Metropolitan Magistrate Railway Court at Secunderabad on January 9.
Like Mr Koneru Prasad, Mr Sunil Reddy has been booked under Sections 120B (criminal conspiracy), 409 (criminal breach of trust), 420 (cheating), 477A (falsification of accounts) and sections of Prevention of Corruption Act.
Ranga Rao reportedly told investigators that of the Rs 138 crore swindled by Mr Koneru Prasad in the Emaar scam, Rs 80 crore was paid to Mr Sunil Reddy and the remaining was kept by Mr Prasad. The CBI, however, is yet to track the money route.
Sunil quizzed on benami assets in his name
A native of Kadapa district, Mr Sunil Reddy is an MBA from Chennai and his father is a geologist. He is not officially into any business and his family members claim that he was helping his wife in her interior decoration business.
“Ranga Rao said that the money was paid to Sunil Reddy to be handed over to a close confidant of YSR. But his name didn’t come on record. Ranga Rao said that he only received a commission amount of four per cent,” said a source.
CBI has alleged that Rs 138 crore was made by Stylish Holmes Private limited, the marketing agency of Emaar Hills Township Private Limited, by selling villa plots over and above the documented price of about Rs 5,000 per square yard by cheating APIIC. Stylish Holmes is already named as an accused in the case.
CBI officials searched the posh villa of Sunil Reddy at Aparna Cyber County at Gopanapally in the city’s outskirts and Le Decors, an interior decoration shop at Road Number 36 at Jubilee Hills run by his wife Ms N. Krishna Teja.
Documents and a laptop found at his house and Le Decors were seized. Sunil was also quizzed about benami properties in his name.
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