Under the terms of the Prevention of Money Laundering Act, the Directorate of Enforcement (ED), Bangalore, has provisionally attached immovable properties worth Rs.17.24 Crore in a case involving illicit mining. In this instance, the ED had already attached properties worth Rs.54.18 crore. As a result, the total attachment in the case is Rs.71.42 Crore.
On the basis of an FIR registered by the Special Investigation Team, Karnataka Lokayuktha, Bangalore, ED launched an investigation under the Prevention of Corruption Act, 1988, against M/s Karadapudi Mahesh, his brothers, and associates under various sections of the Indian Penal Code, 1860, Mines and Minerals (Development and Regulation) Act, 1957, and Prevention of Corruption Act, 1988.
During the PMLA investigation, it was discovered that illegally mined iron ore was transported and traded to the tune of Rs.62.92 crore by the main accused K Mahesh and his brothers, K Govindaraj, K Sadashiva, and K Kumar with the help of their associates without valid permits or on the basis of fake and forged permits. Furthermore, the accused persons aided other people/entities in the transportation and marketing of unlawfully mined iron ore by collecting Rs. 40.93 Crore in risk money from them. As a result, the accused defendants produced criminal gains totalling Rs.103.85 crore and caused a loss to the government exchequer.
It was also discovered that the majority of the money was obtained in cash and was utilised to purchase immovable property in the names of the accused and their family members during the relevant time of the planned offence. More research is being conducted.
