Bank fraud case: ED provisionally attaches properties worth Rs 234 crore of former Maharashtra MLA

Last week, the agency had filed a prosecution complaint (chargesheet) against Patil after the bank alleged that between 2008 and 2018, he siphoned off Rs 560 crore from the bank through 63 fictitious accounts to the loan accounts of Karnala Charitable Trust and Karnala Sports Academy, which were founded and controlled by him.

The ED complaint alleged that the siphoned money was utilised by Karnala Charitable Trust and Karnala Sports Academy for construction of properties such as a sports complex, college, schools and for other personal gains. The ED had said the money used for such constructions was projected “as un-tainted in contravention of offence of money laundering”.

In June, the agency had arrested Patil, a member of the Peasants and Workers Party of India.

The money laundering case of ED against Patil is based on an FIR registered by the Economic Offences Wing (EOW) of Navi Mumbai police last year. Police booked 76 persons, including Patil, for cheating, forgery and criminal breach of trust, in connection with the bank fraud detected by the Reserve Bank of India (RBI).