CBI arrests Koneru Prasad in Emaar case
The Central Bureau of Investigation (CBI) has arrested Trimex group chairman Koneru Prasad in connection with the scam relating to sale of villas by Emaar Hills Township Project (EHTP) at Nanakramguda.
The Stylish Homes Real Estate Limited which was floated by Prasad is the marketing agent for EHTP and has been charged with undervaluing the villas and plots sold at the site while making huge profits in the transactions.
Prasad became the first person to be arrested by the CBI in the twin cases against Kadapa MP Y.S. Jaganmohan Reddy who is facing charges of illegal assets and Emaar properties.