The Central Bureau of Investigation has arrested industrialist and founder of Matrix Laboratories, Mr Nimmagadda Prasad.
Mr Prasad is accused No. 12 in the illegal assets case of Kadapa MP, Mr Y.S. Jaganmohan Reddy.
CBI Joint Director, Mr Lakshminarayana, told newspersons late night yesterday that Mr Prasad was arrested as there was enough evidence to show that he had invested in Mr Jagan’s firms in the quid pro quo arrangement (for gain).
Mr Prasad had invested over 500 crore in Jagathi Publications, Bharathi Cements, among others.
He was allotted over 15,000 acres of Govt land for Vadarevu and Nizampatnam Port and Industrial Corridor (Vanpic) Project in Guntur and Prakasam districts.
Mr K.V. Brahmananda Reddy, who earlier worked as special secretary in the Govt of Andhra Pradesh, was also arrested. Both of them will be produced in the court today.