Cases against Lokesh, Pullarao, Narayana for incider trading

By Nehru.T Jan. 24, 2020, 01:34 pm IST
Cases against Lokesh, Pullarao, Narayana for incider trading

The AP government is tightening the screws of Amaravathi land pooling issue and digging out the entire process to identify the bigwigs in that scandal. As per the investigation made by CBCID, the former TDP ministers including Lokesh, the son of Chandrababu Naidu, P.Pullarao and P.Narayana are in the scandal and CID has registered cases on these ministers. Cheating, criminal breach of trust and insider trading are some of the charges framed by the CID.

These TDP leaders accused of purchasing vast tracts of land in Amaravati before the release of GO on Capital. The CID has already written to the Income Tax department and the Enforcement Directorate to probe allegations of huge purchase of lands by white ration card holders, suspected to be “benamis” of the senior leaders and also into allegations of huge money laundering in buying the lands. Cases under Sections 418 IPC, 420, 406, and 409 IPC have been registered against the leaders.

Nara Lokesh, has been charged with purchase of land in the name of his benamis, Vemuri Ravi Kumar Prasad, former chairman of APNRT; Kanumuri Koteswara Rao and Cherukuri Ramakrishna. Mr. Ravi Kumar and Koteswara Rao were said to have bought lands to the extent of 25.91 acres between April 2014 to April 2019. All these transactions were carried out just before the GO 252, dated December 30, 2014. If the CID intensifies the investigation,so many big fished are expected to come out of the scandal.

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