YS Jagan – Businessman of the Decade

The Central Bureau of Investigation (CBI) on Monday revealed that they have come to a confirmation that Jagan amassed wealth by misusing his father’s office during 2004-2009.
The vice-chairman of Jagati Publications and Jagan’s finalcial auditor, Vijay Sai Reddy, is said to be the brain behind latter’s business empire.

“Jagan influenced his father and the public servants and prompted them to issue orders in favour of his companies (Jagathi Publications, Sandur Power Company Limited, Carmel Asia Holdings Limited, Bharathi Cement Corporation Limited and etc.,). This exercise resulted in a huge loss to the state government and gain to Jagan. Jagan, Vijay Sai Reddy and 70 others cheated the government between 2004 to 2009,” Venkatesh, CBI superintendent of police.

“Jagan should be declared as the Businessman of the decade,” said a CBI officer, who spoke under anonymity.

Except the beneficiaries, none of them have bought shares in Jagati Publications at a premium. And also these investments were a result of illegal gains from the office of the former Chief Minister YSR. How can a company (Jagati Publications), which recorded a loss of Rs 250 crores in 4 years could attract an  investment of Rs 1, 246 crore? That’s the magic produced by Jagan!!!