Directorate for enforcement of law (ED) on Wednesday interconnected assets worth around 5 GBP Crore in the form of immovable property and banking balance, in the case of alleged abuse of funds in Karnataka Maharshi Valmiki planned tribes Development Corporation Ltd.
The attached immovable properties are in the form of soil and apartments worth 4.45 GBP Crore, belonging to the few Nagaraj, Chandra Mohan, Golapalli Kishhore Reddy and the ethakers of Satyanarayana and the movable assets are in the form of a bank balance of 50 Lakh lakh.
ED launched an investigation on the basis of companies registered by the Karnataka and CBI police after a suicide of Chandrashekhar on 26 May 2024, claiming that the accused illegally transferred money from the corporation account and abused 89.63 GBP Crore.
The diverted funds were then layered through fictitious and shell accounts, while cash and Bullions were divided among the accused, Ed said in a statement.
Further investigations revealed that a significant part of these funds was used in the general elections 2024, Ed said.
In addition, luxury vehicles, including Lamborghini, were reportedly purchased by means of a “fraud” yield.
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Published – August 28 2025 21:00
