BELAGAVI: A trail leading from parts of Karnataka to the Democratic Public of Congo has emerged as a key focus of the Enforcement Directorate’s ongoing investigation into the alleged undisclosed overseas investments involving PWD Minister Satish Jarkiholi, his family and associates.
In a fresh post on X on September 17, the ED stated that during the recent searches at multiple locations in the state, it was found that relatives and family members of Jarkiholi, his daughter Priyanka Jarkiholi, son Rahul Jarkiholi and sister Mahadevi Manjunath, who is also wife of Excise Joint Commissioner Y D Manjunath, had acquired shareholdings in several foreign entities, including M/s Eldorado Mining Resources, Congo, and M/s Nava Aurum Mining Limited, Zambia.
“It also emerged that Mr Satish Jarkiholi had acquired an approximately 40 per cent stake in M/s Magnitude Star Sarl, Congo, which is engaged in the gold-mining business. Documents relating to several other foreign entities owning mining assets in Africa were also found and seized.
During the simultaneous searches at multiple locations, including the minister’s residences in Gokak and Dollars Colony, his office-cum-residence on Crescent Road in Bengaluru, and properties in Gokak and Belagavi, ED officials made significant recoveries relating to alleged violations under FEMA (sic),’’ the post read.
The evidence gathered during the searches indicated that a substantial investment expenditure in a Congo-based entity had been made in cash through unauthorised channels.
The Enforcement Directorate (ED), Bengaluru zonal office, conducted search operations at 21 premises linked to Jarkiholi and his close associates in Bengaluru, Belagavi, Gokak and Kolkata on September 9 and 10.
The searches covered the premises of Chikkodi MP and Jarkiholi’s daughter Priyanka Jarkiholi, his son Rahul Jarkiholi and his brother-in-law Y D Manjunath. Searches were also conducted at properties linked to several close associates of Jarkiholi, including his officer on special duty (OSD) and personal assistant Malagouda Patil, Raju Daragshetti, Vitthal Prasannavar and Dr Girish Sonwalkar, according to the X post.
The searches also covered the premises of officials of a private company, M/s Bharat Vanijya Eastern Pvt Ltd (BVEPL), which is alleged to have paid bribes in return for securing tenders from the Public Works Department. The alleged bribe money was purportedly used for acquiring overseas assets. The offices and residences of the owners of BVEPL were also covered during the searches, the post added.
