Former Karnataka minister B Nagendra.
Credit: DH Photo
Bengaluru: The Enforcement Directorate (ED) on Friday said that it has provisionally attached properties worth Rs 8.07 crore belonging to former minister B Nagendra in connection with the alleged scam in the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation (KMVSTDCL).
“ED has provisionally attached four immovable properties, including residential/commercial land and building worth Rs 8.07 Crore (approx), belonging to B Nagendra, former Minister, under the provisions of Prevention of Money Laundering Act (PMLA),” the agency said in a statement.
Earlier, search operations were conducted under the provisions of PMLA, 2002 at various locations across Karnataka and other states. Further, six persons, including Nagendra, were arrested. Thereafter, a Prosecution Complaint (chargesheet) was filed before the Principal City Civil and Sessions Judge, Bengaluru in 2024 against 25 accused persons/entities, including Nagendra.
“All efforts were made to trace the Proceeds of Crime (POC) generated by B Nagendra. However, the remaining POC could not be traced, and it appears that the same has been either exhausted or concealed by B Nagendra. Therefore, ED is constrained to attach an equivalent value of POC in the form of such properties which otherwise may frustrate the further proceedings under PMLA, 2002. In view of the above, four immovable properties worth Rs 8.07 Crore (approx), belonging to B Nagendra were attached as value thereof i.e. as equivalent value of the POC. Further investigation is under progress,” the agency said.