Karnataka mining scam: ED attaches assets worth Rs 54.18 crore
The accused in the scam transported and traded illegally mined iron ore without valid permits or on the basis of fake and forged permits to the tune of Rs 62.92 crore, the ED said.
2 min read
The accused, the ED said, generated proceeds of the crime to the tune of Rs 103.85 crore and caused a loss to the government exchequer. (File) The zonal office of the Directorate of Enforcement (ED) in Bengaluru said on Thursday that it has provisionally attached immovable properties worth Rs 54.18 crore in a case related to illegal mining under provisions of the Prevention of Money Laundering Act (PMLA). The attached assets are in the form of 30 immovable properties consisting of land, residential buildings, commercial premises etc owned by the accused and their family members.
The ED initiated an investigation under PMLA on the basis of an FIR registered by the special investigation team of the Karnataka Lokayukta in Bengaluru against K Mahesh Kumar alias Karadapudi Mahesh, his brothers and associates under various sections of the Indian Penal Code, Mines and Minerals (Development and Regulation) Act, 1957, and Prevention of Corruption Act, 1988.
According to the ED, during the investigation under PMLA, it has been noticed that illegally mined iron ore was transported and traded by the main accused Mahesh and his brothers K Govindaraj, K Sadashiva and K Kumar with the help of their associates without valid permits or on the basis of fake and forged permits to the tune of Rs 62.92 crore. Further, the accused also allegedly facilitated other persons/entities in the transportation and trading of illegally mined iron ore by collecting risk money from them to the tune of Rs 40.93 crore. The accused, the ED said, generated proceeds of the crime to the tune of Rs 103.85 crore and caused a loss to the government exchequer.
It was further noticed during the investigation that most of the amount was received in cash and the same was used in the acquisition of immovable properties in the name of the accused and their family members during the relevant period of commissioning of the scheduled offence.
You May Like
Photos
