AP Fibernet Case: Court’s green signal to confiscate assets of CBN’s close ones

AP Fibernet case by ACB court

In a key development, the ACB Court has today issued orders to confiscate the assets of Chandrababu Naidu’s closed ones related to the case. CID mentioned in the charge sheet that Rs. 114 Crores was misappropriated in this case. Telugu Desam Party chief Nara Chandrababu Naidu was mentioned as A25 in this case. The AP CID has mentioned Vemuri Harikrishna as A1, and Terra Soft MD Tummala Gopichand as A2 in the charge sheet.

The agency today approached the ACB court to confiscate the assets and the court gave a green signal. With the latest order, AP CID is gearing up to confiscate properties belonging to the seven people mentioned to the ACB court.

YCP is alleging that TDP has a role in the fiber grid scam that took place during the Telugu Desam rule. An investigation was done after CID filed a complaint. CID registered a charge sheet against Chandrababu along with the others in the investigation. The court ordered the confiscation of the properties of those who committed illegalities and the political turmoil is raging. The TDP is alleging that YCP is trying to harm the party financially with conspiracies in the wake of the elections.