CBI arrests Matrix Prasad in Jagan assets case HYDERABAD: The moves against Jagan Mohan Reddy were put into high gear Tuesday with leading industrialist Nimmagadda Prasad , popular known as Matrix Prasad, being arrested by the Central Bureau of Investigation Tuesday. Indian Railway Service (IRS) officer K V Brahmananda Reddy was also arrested along with Prasad, who had been named as accused no. 12 in the alleged illegal assets case of the Kadapa MP. Over the last few months, the CBI had been summoning Prasad for questioning and his arrest had been imminent, sources said. On Tuesday too, the CBI sleuths summoned both of them to the Dilkusha guest house and later announced their arrest. Both of them have been arrested on charges of criminal conspiracy, criminal breach of trust, criminal misconduct and various other sections of the Prevention of Corruption Act. Prasad allegedly invested about `500 crore in Jagan Mohan Reddy's companies. Further, many of the promoters in the companies floated by Jagan and Prasad are said to be the same. Prasad is the promoter of M/s Vanpic Projects Private Limited to which more than 15,000 acres of land was allotted in Prakasam district by the then Y S Rajasekhara Reddy government, allegedly in violation of norms. Further, several concessions were extended to Vanpic under the Stamps and Registration Act.
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