ED Unravels Rs 300 Crore Money Laundering Case in Karnataka

The Enforcement Directorate has seized 142 properties valued at Rs 300 crore in the Mysuru Urban Development Authority (MUDA) case. Karnataka Chief Minister Siddaramaiah is among those accused of exploiting political power for illicit land compensation, along with significant funds allegedly being laundered.

The Enforcement Directorate (ED) has successfully attached 142 immovable properties, collectively valued at Rs 300 crore, in relation to the Mysuru Urban Development Authority (MUDA) case. This development comes as a major blow to Karnataka Chief Minister Siddaramaiah and others implicated in the ongoing investigation.

The ED's Bangalore Zonal Office conducted this seizure under the Prevention of Money Laundering Act (PMLA), 2002. These properties, registered under various individuals purportedly involved in real estate, stem from an FIR by the Lokayuktha Police Mysore against Siddaramaiah and several associates.

Allegations against Siddaramaiah include leveraging political influence to illicitly obtain compensation for land acquired by MUDA, with lands allocated to his wife reportedly worth Rs 56 crore. The investigation also revealed widespread illegal land allotments and the laundering of large amounts of unaccounted funds by influential persons and real estate businessmen.

(With inputs from agencies.)