Title: Income Tax Department Raids DMK MP Jagadratsaka’s Properties in Chennai
Subtitle: Money laundering and illegal investments under investigation
Date: October 5, 2022
Chennai: In a major development, the Income Tax Department has initiated raids at multiple locations linked to DMK MP Jagadratsaka, including his residence and a hotel owned by him.
The raids, which began early this morning, are taking place in over 70 locations associated with former Union Minister and DMK MP Jagatrakshagan. The officials have conducted searches at his home in Adyar and a prestigious hotel he owns in D. Nagar.
In addition, the Income Tax officials carried out a lock-breaking exercise at a college in Poontamalli during their search operations. Reports suggest that when the officials arrived at Jagatrakshagan’s house in Pattabiram near Avadi, they found it locked and had to forcibly enter the premises. Notably, the search is not limited to his properties alone, as more than 70 places linked to Jagadratsaka’s relatives and friends are also under investigation.
The raids come after a complaint was filed against the MP and his family for alleged illegal money transfers in 2020. The enforcement officers had previously raided Jagatratsagan’s house and other associated locations. In connection with illegal investments abroad, the enforcement department had also frozen assets worth a staggering Rs 89.19 crore belonging to the MP.
This series of raids and investigations by the Income Tax Department aims to probe into alleged money laundering and undisclosed foreign investments linked to Jagadratsaka. It is still early in the investigation, and the department is expected to release more details about the case in the coming days.
As news of the raids spread, the political landscape in Chennai has been buzzing with speculation about the potential impact on the DMK party and Jagatrakshagan’s political future. Requests for comments from the MP or his representatives have been unanswered so far.
This is a developing story, and we will continue to provide updates as more information becomes available.