YSR Congress Party leader and advocate Gautham Reddy here on Thursday alleged that Congress MP from Vijayawada Lagadapati Rajagopal had cheated the Bank to the tune of Rs 3,000 crores.
Speaking to mediapersons at Somajiguda Press Club here, Gautham Reddy said that Lagadapati procured several hundred crores of rupees from the people in the country and bought “Grifin” a losing coal company in Australia. Later, Rajagopal had taken Rs 3,000-crore loan from Bank by mortgaging Grifin company documents.
Stating that share value of Lanco Infra of Rajagopal had fallen considerably, the YSRC leader said that many investors along with the Bank have incurred colossal losses. He demanded that the government order inquiry into Lanco Infra affairs by CBI and Enforcement Directorate. He also warned that he would launch a legal war against Lagadapati if these investigative agencies failed to
take up probe. He also said that he would lodge a complaint with the Lok Sabha Speaker Meira Kumar against the Vijayawada MP. (NSS)