Probe Agency Arrests Key Accused In Karnataka 'Double Compensation' Scam
The Enforcement Directorate's Bengaluru office has arrested one person in connection with the high-profile double compensation scam at the Karnataka Industrial Area Development Board.
The arrest - of Ravi Yallappa Kurbett - is part of an ongoing money laundering investigation linked to VD Sajjan, a retired Special Land Acquisition Officer, and others.
The accused was produced before a special PMLA, or Prevention of Money Laundering Act, on Wednesday and sent to the probe agency's custody for further interrogation and investigation.
The investigation so far indicates that the accused siphoned double the compensation amount -usually in the names of deceased individuals or those who had already received payouts.
The investigation also indicates Kurbett played a 'critical and instrumental role' in executing the scam and was one of the key beneficiaries. According to the agency, he allegedly used the laundered money to purchase immovable assets, in his name and those of relatives.
He also spent significant amounts on 'personal expenses'.
The agency had earlier attached properties worth around Rs 13 crore in this case.
A prosecution complaint had also been filed earlier against 22 accused persons, and the PMLA court has taken cognisance of the complaint. The matter remains under trial.
Further investigation into the money laundering network and other accused is underway.
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