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YS Jagan , an extortionist .
The mastermind behind the biggest corporate crime ever - Ramalinga Raju - confessed to the investigating cops that he had made the startling revelations out of fear of none other than Kadapa MP YS Jaganmohan Reddy.
The multi-crore Satyam Computers fraud might not have seen the light of the day, had the former chief minister YS Rajasekhar Reddy's son and Kadapa MP YS Jaganmohan Reddy not roughed up Ramalinga Raju few months before the 2009 elections.
This was disclosed by none other than Raju himself to his interrogators three days after he was taken into custody for questioning. One of the officers who was part of the team that interrogated him told Hyderabad Journal that Raju did not cooperate with them initially.
Fed up with his non-cooperation, the investigators played a trick to make him cooperate. The investigators deliberately allowed Raju to overhear their plan to arrest Raju's wife and sons. It was then Raju broke down and cried like a child because he has a lot of affection for his kids and would not even dream of a slight trouble for them, the officer said.
The first thing Raju disclosed was about how he landed in trouble. He had told the interrogators that he was blinded by his love for his kids and walked into the trap of YS Rajasekhar Reddy and his son Jaganmohan Reddy.
He told his interrogators that YS Rajasekhar Reddy demanded Rs 500 crore in cash for the 2009 elections. It was a time when everyone was reeling under economic recession and liquid cash that too in black was not available at all. "I expressed helplessness and offered to give some assets but the chief minister insisted that I cough up the cash. He also told me that his son Jagan will talk to me in this regard," Raju told his interrogators.
"Jagan stepped in and called me for a meeting to discuss the issue. Few others were present when the meeting took place. When I made it clear that I could not arrange the cash, Jagan roughed me up and threatened with dire consequences. It humiliated me like anything and I wept for two days. Then I thought about the legal and physical consequences if I failed to pay the money. I had no other option but to announce the financial crisis in Satyam and face the law of the land to save my own life and that of my family", Raju told his interrogators.
Raju announced the biggest ever Indian corporate fraud on January 7, 2009 in a letter addressed to the board members and the Securities and Exchange Board of India (SEBI), while the elections for Andhra Pradesh Legislative Assembly were held in April 2009.
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