YSRCP welcomes probe in Panama Papers

Hyderabad, April 5: Welcoming the Centre’s decision to order a probe into the names mentioned by Panama Papers for stashing away huge amounts of unaccounted money abroad, YSR Congress has said that Chandrababu Naidu’s name too would come out in the investigation.

‘It is a welcome move that the Centre has ordered a probe into the breaking news of many people of Indian origin stashing away unaccounted money abroad and we firmly believe that Chandrababu Naidu’s name would also come out in the investigation as he has many links with foreign companies and has been on foreign jaunts more than what is necessary for a person in public office,’ party spokesperson Vasireddy Padma told reporters here on Tuesday.

What was revealed was only the tip of the ice berg as the law firm has more than 11 million documents and only 500 names of were revealed so far.

When the truth comes out, Chandrababu Naidu’s name would figure as the documents obtained by investigative journalists of the German newspaper and along with International Consortium of Investigative Journalists (ICIJ) goes back to 1977 and covers till December 2015 and has gathered details of the tax havens of the individuals, Trusts and Corporate that had involved in money laundering.

Chandrababu Naidu was described by Tehalka long back that he is the richest Chief Minister in the country and has business interests abroad. His frequent trips to Singapore, Malaysia, Davos and other countries confirm his financial interests elsewhere.

The way Singapore companies have been involved in the capital area development also indicate his foreign connections and the money he has been spent on luring MLAs in Telangana and Andhra Pradesh speak of the hidden funds, which will come out in course of investigation.

On the local front, he has to answer to the Telangana Chief Minister K Chandrasekhar Rao’s statement of utilizing Krishna and Godavari waters. There was no reaction from his side though there were grand designs on part of the Telangana government on the water utilization issue, she said.