Rs. 5,700 crore bank fraud revealed- TDP MP Sujan Chowdhary
Rajya Sabha MP YS Chowdhary is the former junior minister for science and technology in the NDA government. Searches are being conducted on him officials of the Enforcement Directorate. They have seized documents revealing Rs. 5,700 crore bank fraud companies controlled the MP and his associates.
Chowdhary has been summoned for questioning on November 27. The ED has also seized six high- end luxury cars from the from the MP’s residential premises in Hyderabad. This includes a Ferrari, a Range Rover and a Mercedes- Benz. All the cars were registered in the names of shell companies. These shell companies are allegedly involved in money laundering activities.
Chowdhary refuted allegations made ED. He said that he is neither Chairman nor in an executive position in any Sujana group companies as he had quit these firms in 2010. Chowdhari said, “of the six cars seized the ED, three are registered in individual names and three are in the names of companies. The three companies which own the cars are not dummy companies as alleged. I have only a symbolic stake of 1 per cent in these companies.”
ED officials conducted searches on 8 locations in Hyderabad and Delhi. These locations were connected with the bank frauds his Sujana Group. Documents recovered from one of the premises searched revealed that the MP’s group entities had pending ED, CBI and Directorate of Revenue Intelligence cases. The Rs. 5,700 bank fraud is yet to be confirmed.
The ED claimed, “Verification conducted with documents and records seized indicated that BCEPL (Best and Crompton Engineering Projects Ltd.), Chennai, along with other Sujana Group companies were functioning under the chairmanship of Y Satyanarayan Chowdhary, a sitting Rajya Sabha TDP MP.”
The Rs. 5,700 bank fraud has evidence that backs the crime. What do you think?
