ED Provisionally Attaches Rs 8 Crore Assets of Former Karnataka Minister
Action under PMLA follows probe into alleged diversion of ST welfare funds
Bengaluru: In connection with the case related to alleged misappropriation and diversion of funds belonging to Karnataka Maharishi Valmiki Scheduled Tribes Development Corporation (KMVSTDC), the sleuths of Directorate of Enforcement (ED), Bengaluru zone provisionally attached four immovable properties belonging to former minister and Congress MLA B. Nagendra worth Rs 8.07 crore and the attached properties include residential/commercial land and building.
The provisionally attached properties of the former minister have been done by ED sleuths under the provisions of Prevention of Money Laundering Act, 2002.
A release from ED on Friday stated its sleuths began investigation on the basis of various First Information Reports registered by Karnataka police and by Central Bureau of Investigation into offences related to misuse/diversion of funds from the Scheduled Tribes Development Corporation.
When the alleged misuse/diversion of funds from the Scheduled Tribes Development Corporation was exposed, B. Nagendra was the Minister of Scheduled Tribes Welfare and Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation (KMVSTDC) functions under the ST ministry. Following the exposure, B. Nagendra resigned from Siddaramaiah's ministry.
Initiating an investigation into the case, ED sleuths conducted searches at various locations across Karnataka and other States and also led to the arrest of B. Nagendra in June 2024. ED filed a prosecution complaint before the Principal City Civil and Sessions Court, Bengaluru, on September 9, 2024 including B. Nagendra and 24 other accused persons. Currently, B. Nagendra is out on bail.