BENGALURU: The Directorate of Enforcement (ED), Bengaluru zonal office, has provisionally attached immovable properties worth Rs 54.18 crore in a case related to illegal mining under the Prevention of Money Laundering Act (PMLA), the agency stated in an official release.
The attached assets are in the form of 30 immovable properties consisting of land, residential buildings, commercial premises, etc., owned by the accused persons and their family members.
“The ED initiated an investigation under PMLA based on an FIR registered by the Special Investigation Team, Karnataka Lokayukta, Bengaluru, against Karadapudi Mahesh, his brothers and associates u/s 379, 420, 468, 471 r/w 120(B) of the Indian Penal Code, 1860 for theft, cheating, forgery, using as genuine a forged document and criminal conspiracy, Section 21 r/w 4(1), 4(1A), of Mines and Minerals (Development and Regulation) Act, and section 7, 13(2) r/w 13(1)(d) of Prevention of Corruption Act,” the agency added.
“During investigation, it was noticed that illegally mined iron ore worth Rs 62.92 crore was transported and traded by the main accused Mahesh and his brothers, K Govindaraj, K Sadashiva, K Kumar with help of their associates, without valid permits or based on fake and forged permits,” the ED stated. “Further, the accused also facilitated other persons/entities in the transportation and trading of illegally mined iron ore by collecting Rs 40.93 crore as risk money from them. Thus, the accused persons generated Rs 103.85 crore as proceeds of crime and caused loss to the government exchequer,” the agency added.
“It was further noticed during investigation that most of the amount was received in cash and the same was used in acquisition of immovable properties in the name of the accused persons and their family members,” the ED stated.