ED attaches assets worth Rs 17.24 crore in Bengaluru illegal mining case
Bengaluru (IANS). The Enforcement Directorate (ED) on Wednesday said it has attached immovable properties worth Rs 17.24 crore in a PMLA case related to illegal mining in Bengaluru.
In this case, the ED had earlier attached assets worth Rs 54.18 crore, thus taking the total attachment to Rs 71.42 crore.
ED initiates PMLA probe on the basis of FIR registered by Special Investigation Team, Karnataka Lokayukta against Karadapudi Mahesh, his brothers and associates under various sections of Indian Penal Code, Mines and Minerals (Development and Regulation) Act, and Prevention of Corruption Act .
The ED official said, “During the investigation under PMLA, it has been observed that transportation and trading of illegally mined iron ore worth Rs 62.92 crore was carried out by prime accused Mahesh and his brothers, K. Govindaraj, K. Sadashiv, K. Kumar with the help of his associates on the basis of forged permits.”
The ED said that the accused persons also helped others in transportation and trading of illegally mined iron ore by collecting a risk money of Rs. 40.93 crores. Thus, the accused persons derived proceeds of crime to the tune of Rs.103.85 crore and caused loss to the exchequer.
It was further observed that most of the amount was received in cash and the same was used for acquisition of immovable properties in the name of the accused persons and their family members during the relevant period of the scheduled offence. Further investigation is on.
