Prasad Arrested, Jagan In Big Trouble

Popular Industrialist Nimmagadda Prasad who is on vacation has been arrested by Serbia Police in Belgrade in connection with the Vanpic Case. The arrest happened upon the complaint by Ras Al Khaima, a small country in UAE, about fraud in the Vanpic Project.

It is also coming out that the YSRCP Government tried to get Nimmagadda Prasad to release through the Central Government. A letter was allegedly sent to Jaishankar, External Affairs Minister, to put forth pressure on Serbia Government. But, the news got leaked to the media now.

Vanpic case is currently in the court and Chief Minister YS Jagan Mohan Reddy is also one of the accused in this case. With Nimmagadda Prasad’s arrest, YS Jagan is in big trouble now.

For starters, Nimmagadda Prasad had entered into an agreement with Ras Al Khaima (RAK) regarding Vadarevu and Nizampatnam Industrial Corridor (VANPIC). As part of the agreement, RAK transferred Rs 750 crore to Prasad through Mauritius companies.

But, the deal was not materialized because of the CBI case. RAK has been asking Prasad to return back money and placed him under Interpol watch list.