CBI tracked Sunil’s online bank deals

HYDERABAD: The CBI has been monitoring the online bank transactions of N Sunil Reddy, the latest accused in the Emaar scam. “Sunil Reddy transferred huge sums, running into crores of rupees, from one bank account and spread it over several other accounts.
“A lot of this amount was directly collected by him from the villa owners in the Emaar episode,” the CBI sources said.
The probe agency is now suspecting that Sunil collected the scam money and deposited most of it in his account with the same being later transferred to his various other accounts, sources said. CBI wants, among other things, to know the details and the end recipients of these monies.
According to the CBI case, Emaar ‘swallowed’ 90% of the income generated in the project by showing only a fraction of it as official income; the balance was diverted to various persons and entities, thereby causing huge loss to its public sector partner APIIC.
A large portion of the money thus collected unofficially from buyers of villas in Emaar Hill township, according to the statement given by T Ranga Rao of Stylish Homes, went to Sunil Reddy. This, sources said, was in accordance with the instructions given by Koneru Rajendra Prasad, the key accused in the case.
According to sources, Sunil himself collected extra money from villa buyers in the presence of Ranga Rao. “There were also instances when he took certain villas in lieu of the money to be collected from Ranga Rao,” the sources said. CBI is now trying to trace the money trail and the real owners of certain villas that have been bought under benami names in the Emaar episode, sources said.