Rs 300 crore assets seized in money laundering case involving Siddaramaiah
On Friday, the Enforcement Directorate (ED) announced the seizure of assets worth around Rs 300 crore. The assets are part of a probe into a money laundering case linked to Karnataka Chief Minister Siddaramaiah and others. The ED has attached more than 140 units of immovable properties as part of its investigation into alleged irregularities in land allotment by the Mysuru Urban Development Authority (MUDA).
The attached properties are registered under various individuals, many of whom are real estate businessmen and agents. The ED claims that Siddaramaiah used his political influence to secure compensation for 14 plots in the name of his wife, Smt. BM Parvathi. These plots, in exchange for 3 acres and 16 guntas of land acquired by MUDA, are valued at Rs 56 crore.
The land in question was originally acquired by MUDA for just Rs 3,24,700. The agency has linked this compensation deal to potential money laundering activities. Siddaramaiah, however, has denied any wrongdoing, calling the charges politically motivated. He claims the opposition fears his influence and dismissed the case as an attempt to malign him and his family.
The ED investigation also points to the role of former MUDA commissioner D B Natesh. According to the agency, Natesh played a key part in the illegal allotment of land to Parvathi. During the probe, the ED uncovered a pattern of illegal land allotments by MUDA. A large number of these sites were given to real estate businessmen, who allegedly sold them for substantial profits, generating unaccounted cash.
The ED claims this illegal profit was laundered and presented as legitimate income. Some of the sites were allotted in the names of “benami” or dummy persons connected to powerful individuals in real estate. The agency’s raids uncovered evidence suggesting that illegal gratification was paid to the then MUDA chairman and commissioner. Payments were allegedly made in the form of immovable property, MUDA sites, and cash.
Further investigations revealed that money was funneled through a cooperative society to facilitate the purchase of luxury assets, including vehicles and property, in the name of G T Dinesh Kumar’s relatives. Dinesh Kumar had served as the previous commissioner of MUDA. The ED continues to examine this network of financial transactions linked to the land allotments.
As the probe unfolds, the ED’s actions against Siddaramaiah and others are expected to intensify, raising questions about the links between political influence and real estate corruption in Karnataka.
