DKS got land in auction at throwaway price: ED

DKS got land in auction at throwaway price: ED

Congress leader D K Shivakumar

The Enforcement Directorate (ED) has claimed that Congress leader D K Shivakumar and his family members purchased lands/buildings at throwaway prices in auction by using tainted cash.

While rejecting bail for Shivakumar, Special Judge Ajay Kumar Kuhar, in his 31-page order noted the investigation revealed that the applicant/accused has generated illegal money which is evident from increase in his assets and that of his family members.

Shivakumar, his distant relatives and associates maintained 317 bank accounts and deposited tainted cash in them, and transferred the money to his mother, father, wife and daughter’s  bank accounts. The money was transferred to purchase buildings and agricultural lands. Agricultural land was converted for commercial use and entered into joint development agreement.

During the investigation it was found that Shivakumar’s three bank accounts have deposit/money transfer of more than Rs 200 crore and for which statements from the respective banks were received. However, he could not explain the source of these deposits. The high-value deposits have moved through circuitous route from one bank account to another bank account of the accused, his family members and close associates without any plausible reason, the order noted, quoting ED.

The ED also said that investigation so far revealed that there are series of transactions, which show unaccounted cash transactions and its laundering running into at least Rs 143 crore. The recovery of Rs 8.59 crore in his Safdarjung Enclave houses in Delhi, was part of this laundering of money, the judge noted.

Shivakumar, in criminal conspiracy with at least 53 associates/confidants and family members, has earned illegal money by abusing his official position as public servant, order noted, quoting Enforcement Directorate .