YSRCP Liquor Rip-off: YS Jagan, The Final Beneficiary

The large fish within the YSRCP period liquor rip-off value hundreds of crores has lastly been revealed. SIT investigations have recognized former Chief Minister Jagan as the last word beneficiary of this large corruption scandal.

Investigators discovered that Raj Kasi Reddy collected month-to-month bribes of 50-60 crore rupees from liquor provide firms and distilleries, with all funds reaching Jagan. Between 2019-2024, roughly 3,200 crore rupees have been collected by means of this scheme.

The SIT report revealed that Sajjala Sridhar Reddy, proprietor of SPY Agro Industries, held a gathering with distillery homeowners in Hyderabad in 2019. Corporations have been threatened that solely these paying bribes would obtain liquor provide orders. Initially set at 12% of the bottom value, the bribe was later elevated to twenty%.

The collected cash was channelled to Jagan by means of a community together with MP Mithun Reddy, Vijay Sai Reddy, YS Anil Reddy (Jagan’s brother), and Govindappa Balaji (director dealing with Bharathi Cement’s monetary affairs). Financial institution transaction evaluation revealed suspicious routing of 60 crore rupees between Sunhoo Golf equipment, Decart Logistics, and SPY Agro Industries.

Adan Distilleries and Leela Distillery, each with out precise distillery amenities, carried out enterprise value 732 crore and 454 crore rupees, respectively. These firms operated below the management of Raj Kasi Reddy and Vijay Sai Reddy by means of numerous proxies, utilizing subleasing preparations with different distilleries.

The SIT concluded that this large liquor syndicate operated with the help of high authorities officers, inflicting losses of three,200 crore rupees to the state treasury. The cash was laundered by means of gold retailers utilizing faux GST invoices to legitimise the transfers.