BENGALURU: The Special Prevention of Money Laundering Act (PMLA) Court at Bengaluru convicted former assistant manager, Karnataka State Forest Industries Corporation Ltd (KSFIC) BC Shanthakumar and sentenced him to three years rigorous imprisonment in a money laundering case.
Giving details of the case, the Directorate of Enforcement (ED) in an official release on Wednesday stated that an FIR was registered on December 1, 2009, by Karnataka Lokayukta police, Hassan, under Sections 13(1) (e) r/w 13(2) of Prevention of Corruption (PC) Act, against Shanthakumar for accumulating disproportionate assets to the tune of Rs 84,42,067, which was found to be 122.79 per cent disproportionate to his known sources of income.
“Based on the FIR, an ECIR dated March 31, 2010 was recorded by the ED, Bengaluru zonal office, against Shanthakumar under PMLA. The investigation revealed that he was involved in the processes connected with proceeds of crime and a Provisional Attachment Order dated March 27, 2014 was issued against him thereby attaching his properties worth Rs 60,41,243.