The Directorate of Enforcement (ED) has provisionally hooked up immovable properties in two cash laundering cases against two individuals, each connected with Opposition get together leaders, forward of the Assembly elections.
The ED issued a provisional attachment order on Friday, attaching two immovable properties of the previous bureaucrat T.N. Chikkarayappa, price ₹1.1 crore. Mr. Chikkarayappa, thought of near Leader of the Opposition Siddaramaiah, has been actively engaged on his behalf in Kolar and is alleged to be a ticket aspirant from the get together in one of many constituencies in Bengaluru. “Investigation revealed that Mr. Chikkarayappa during his government service with the help of other accused persons illegally accumulated disproportionate assets to the tune of ₹5.33 crore, which is 304.93% excess than the legal source of income,” the ED stated in a press release.
Associate of Reddy
In one other case, the ED just lately provisionally hooked up 30 immovable assets of Kharapudi Mahesh, a detailed affiliate of G. Janardhana Reddy, who has give up the BJP and began his personal Kalyana Rajya Pragati Paksha. These assets price ₹54.18 crore are in Ballari, Vijayanagara, and Koppal districts and have been hooked up in a case associated to unlawful mining.
The ED claimed that the inquiry revealed that Mahesh and his members of the family transported and traded illegally mined ore price ₹62.92 crore with out legitimate permits or primarily based on solid permits and picked up danger cash ₹40.93 crore for transportation of illegally mined ore by others. “Most of the amount was received in cash and the same was used in the acquisition of immovable properties,” the ED stated in a press release.
Coop. financial institution case
In one other case, the Special Court (PMLA) has taken cognisance of the prosecution grievance filed by the ED and issued summons to all accused individuals in a cash laundering case against Mohamed Asadulla and others and his firm Al-Ameen Housing Development Company Ltd., in the case of financial institution fraud in Amanath Cooperative Bank Ltd.
“Investigation by the ED revealed that during the years 1985 to 2002, the accused persons misappropriated the funds of Amanath bank by allegedly sanctioning huge amounts of loans to non-existent and fictitious account holders, passing cheques, and overdraft accounts fraudulently and defrauding the bank and by using the said funds for their personal purpose and investing the same in immovable properties in their name and in the name of their relatives,” the ED stated in a press release. The current market worth of immovable assets provisionally hooked up in the case is ₹243.93 crore.
