HYDERABAD: After questioning N Sunil Reddy, accused in the Emaar- APIIC scam and close aide of Kadapa MP YS Jaganmohan Reddy, the CBI has claimed that it is all set to ascertain his assets and the source of funds with which he acquired the properties..
Stating that the investigation against Sunil Reddy was still in progress, the agency told the special CBI court in its counter on Monday opposing Sunil's bail petition that the pecuniary resources of Sunil and the trend of his acquiring the property was being ascertained.
The CBI said Sunil, under instructions of Koneru Rajendra Prasad, Tummala Ranga Rao and his manager, collected `96 crore in cash from buyers of Emaar villa plots towards part sale consideration villa over and above the documented rate of `5,000 per square yard. The money was handed over to Sunil and Rajendra Prasad by Ranga Rao.
The investigation, it claimed, revealed that Sunil entered into criminal conspiracy with Rajendra Prasad to collect the amount that was unaccounted for in the records of Emaar Hills Township Pvt Ltd.
Furhter hearing was posted to March 5.