The Enforcement Directorate in the Union Finance Ministry on Tuesday registered FIRs against the YSR Congress president Mr YS Jaganmohan Reddy and the Emaar Properties under the Money Laundering Act.

Sources said that cases were registered against Jagan and the Emaar Properties under the Enforcement Case Information Report based on the FIR earlier issued by the CBI, Hyderabad. The individuals and parties mentioned in the FIR are the same as mentioned in CBI FIRs.

CBI had filed FIRs charging both Mr Jagan and Emaar under Section 120B (criminal conspiracy) read with Section 420 (cheating), Section 409 (criminal breach of trust), 420 and 477A (falsification of accounts) of IPC. While 74 persons were mentioned as accused in the FIR against Jagan, 7 persons were listed as the accused in the FIR against Emaar Properties.

After filing the FIR, the Enforcement Directorate has to submit a charge sheet within 5 months and if convicted, the accused may get a sentence of three to seven years with a fine of Rs 5 lakh. In the Hasan Ali case too, the ED seized 6,000 acres of property after issuing an FIR.