2 days ago
ED seizes Rs 1.68 crore, 6.75 kg gold in Belkeri iron ore case against Karnataka MLA
The Enforcement Directorate (ED) has conducted extensive search operations across four states, seizing significant assets as part of an ongoing investigation into a massive illegal iron ore export case involving Karnataka Congress MLA Satish Krishna raids, carried out on August 13 and 14, targeted premises in Karwar (Karnataka) and locations in Goa, Mumbai, and New Delhi, where officials recovered cash worth Rs 1.68 crore and 6.75 kg of gold in the form of jewellery and bullion. The agency has also frozen bank accounts worth Rs 14.13 crore.
advertisementThe investigation under the Prevention of Money Laundering Act (PMLA) focusses on Karnataka MLA Satish Krishna Sail, along with other individuals and entities previously convicted for illegal iron ore exports.
The central agency said it is also examining various incriminating documents, emails, and records discovered during the searches to further its probe into the money laundering case originates from a 2010 investigation by the Karnataka Lokayukta, which exposed the illegal transport of around eight lakh tonnes of iron ore from Ballari to Belekeri port. The illegally mined ore, seized by forest officials, was subsequently exported illicitly.A special court for MPs and MLAs in Bengaluru had previously convicted Sail and others in multiple cases, sentencing him to seven years in prison. However, the Karnataka High Court later suspended the sentence and granted him ED's current investigation alleges that the illegal exports caused a loss of approximately Rs 38 crore to the state exchequer, with the actual value of the illegally exported ore believed to be in the hundreds of agency is scrutinising financial transactions, property records, and the broader network of individuals involved in the illegal mining and export operations to uncover the full extent of the money-laundering activities.- Ends
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