January 18, 2025: The Enforcement Directorate (ED) on Friday announced the attachment of over 140 immovable assets worth approximately Rs 300 crore in connection with a money laundering case involving Karnataka Chief Minister Siddaramaiah. The case pertains to alleged irregularities in land allotment by the Mysuru Urban Development Authority (MUDA).
According to the ED, the attached properties are registered under various individuals, including real estate businessmen and agents. The probe focuses on the misuse of political influence by Siddaramaiah, who is accused of securing compensation for 14 sites in the name of his wife, Smt. BM Parvathi. The compensation was granted in return for 3 acres and 16 guntas of land acquired by MUDA.
The land, initially acquired by MUDA for a mere Rs 3,24,700, was exchanged for sites in a prime locality valued at approximately Rs 56 crore. The ED also pointed out the role of former MUDA Commissioner D B Natesh, whom they claim played a "key role" in the illegal allotment of these sites to Parvathi.
The investigation further revealed that numerous other sites were allegedly allotted in a similar manner to real estate businessmen, who sold them at substantial profits. This, the ED claims, generated significant unaccounted cash, which was subsequently laundered and made to appear as legitimate income.
Incriminating evidence, including payment of illegal gratification in the form of property, MUDA sites, and cash, was reportedly uncovered during raids. Additionally, it was discovered that money was funneled through a co-operative society to facilitate the purchase of luxury vehicles and property in the name of relatives of G T Dinesh Kumar, the former MUDA Commissioner.
While Siddaramaiah has denied any wrongdoing, calling the allegations politically motivated, the ED's investigation continues to unfold with new revelations. The case has added another layer of controversy to the ongoing political landscape in Karnataka.
STORY HIGHLIGHTS
ED Seizes Rs 300 Crore Assets in Land Scam Case Involving Karnataka CM Siddaramaiah
January 18, 2025: The Enforcement Directorate (ED) on Friday announced the attachment of over 140 immovable assets worth approximately Rs 300 crore in connection with a money laundering case involving Karnataka Chief Minister Siddaramaiah. The case pertains to alleged irregularities in land allotment by the Mysuru Urban Development Authority (MUDA).
According to the ED, the attached properties are registered under various individuals, including real estate businessmen and agents. The probe focuses on the misuse of political influence by Siddaramaiah, who is accused of securing compensation for 14 sites in the name of his wife, Smt. BM Parvathi. The compensation was granted in return for 3 acres and 16 guntas of land acquired by MUDA.
The land, initially acquired by MUDA for a mere Rs 3,24,700, was exchanged for sites in a prime locality valued at approximately Rs 56 crore. The ED also pointed out the role of former MUDA Commissioner D B Natesh, whom they claim played a "key role" in the illegal allotment of these sites to Parvathi.
The investigation further revealed that numerous other sites were allegedly allotted in a similar manner to real estate businessmen, who sold them at substantial profits. This, the ED claims, generated significant unaccounted cash, which was subsequently laundered and made to appear as legitimate income.
Incriminating evidence, including payment of illegal gratification in the form of property, MUDA sites, and cash, was reportedly uncovered during raids. Additionally, it was discovered that money was funneled through a co-operative society to facilitate the purchase of luxury vehicles and property in the name of relatives of G T Dinesh Kumar, the former MUDA Commissioner.
While Siddaramaiah has denied any wrongdoing, calling the allegations politically motivated, the ED's investigation continues to unfold with new revelations. The case has added another layer of controversy to the ongoing political landscape in Karnataka.