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Veerendra took short cuts to riches, but law caught up

K C Veerendra started several business enterprises such as  real estate to convert his black money into white.

Published: 14th December 2016 03:19 AM  |   Last Updated: 14th December 2016 10:23 AM   |  A+A-

Businessman and JD(S) leader K C Veerendra

Businessman and JD(S) leader K C Veerendra

Express News Service

CHITRADURGA : Businessman K C Veerendra has a rag-to-riches-to-CBI custody story behind him. When all other doors for money making were closed for Veerendra alias Pappi, gambling (andar-bahar or AB) and cricket betting opened up avenues for this man from Challakere.

Veerendra was born into a well-to-do family. But the family went through rough times since 2000, when their oil mill was shut down and his father Channabasappa was forced to work as a labourer at other mills. It was the time when many mills in Challakere were closed.

It was the closed mills which opened avenues for money making for Veerendra, who took to small-time gambling and cricket betting. During one of his visits to Hubballi, a den of gambling and betting business, Veerendra’s activities influenced Samundar Singh and Srinivas who took the business to new heights across the state. 

Later, they moved to Goa where they got licence for running card games at two casinos, which made them rich. The business helped them build political, real estate and business contacts and they also become hawala operators. Veerendra also started a casino in Nepal and another in Sri Lanka which is still under construction. 

Veerendra started several business enterprises  such as  real estate to convert his black money into white. Most prominently among them is the opening of ‘Ratna Gold’, which would purchase gold at market prices from the public. He would also lend money.  

Many stories have started floating over the unearthing of unaccounted wealth worth D5.7 crore, including gold and property papers by Income Tax officials recently. 

However a reliable source told Express that the secret vault that was built in the bathroom was unearthed by a ‘metal detector’. 

The district JD(S) unit has distanced itself from  K C Veerendra, stating that he has not even obtained primary membership of the party.



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