RM Manjunatha Gowd, former chairman of Shivamogg District Co-Aperative Central (DCC) Bank. | Photo Credit: Vaidya
Directorate for recovery (ED), Bengaluru Zonal Office, arrested RM Manjunatha Gowda, former chairwoman of Shivamogg District Cooperative Central (DCC), according to the PMLA, 2002.
He was taken into custody on April 9, for his alleged involvement in the case of money washing associated with fraud with multi-corrore golden loans. After his arrest, Mr. Gowda was made before a special court for PMLA cases, which, according to his release, awarded him a 14 -day binding of ED.
Search operation
On Tuesday, ED performed search operations at several places in Shivamogg and Bengalur, including the city branch of Shivamogga DCC Bank. Digital and physical evidence was confiscated in these searches, Ed said.
“The investigation revealed extensive abuse of banking funds at the city branch, allegedly organized by branch by B. Shobha on Gowda’s instructions. According to the accusation of the Police Loket, Mrs. Sobha. Holders of accounts, using fake, produced and counterfeit documents, ”said Ed.
The Ed Investigation Revealeds of Crime Generated by Sobha in Conspiracy with Other co-acquused from the Commission of Scheduled Offense Were Laundered and Also Handed Over to Mr. Gowda. He High Various Such Properties Generated from the Offement.
Published – April 9, 2025 9:09
