Former Lokayukta's assets attached by ED

Former Lokayukta's assets attached by ED

The Enforcement Directorate has attached assets worth Rs 5.3 crore belonging to former Lokayukta Justice Y Bhaskar Rao under the Prevention of Money Laundering Act in a corruption case.  

The agency  has provisionally attached six commercial and residential properties in various prime locations across  the city.

The attached properties have  a present guidance value of Rs 2.6 crore and deposits worth Rs 2.75 crores in various banks, under the provisions of PMLA. The total attachment in the case now stands at Rs 11.5 crore, read a press release from the ED.

The money laundering case followed an SIT investigation into allegations of corruption and extortion in the Lokayukta's office.

The SIT had filed four charge sheets against Y Ashwin Rao, the son of Justice Rao, and others. During the course of the investigation under provisions of the money laundering act, the ED had attached assets worth Rs 6.2 crore.

Based on inputs from the SIT, it was revealed that one of the accused, V Bhaskar alias 420 Bhaskar, is in possession of additional property worth Rs 5.3 crore, acquired from  criminal conspiracy and blackmailing, and extorting money from various government officials in collusion with the other accused.

Further probe is on.

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