The Enforcement Directorate (ED) arrested Karnataka Congress MLA Satish Krishna Sail on Tuesday in reference to a cash laundering case linked to the alleged unlawful export of iron ore from the Belekeri port in Ankola, the company mentioned.
Satish Krishna Sail, who represents the Karwar-Ankola Meeting constituency, is the second Congress MLA to be arrested in Karnataka within the final 20 days. Earlier, Okay C Veerendra Pet, MLA for Chitradurga, was arrested in a case of unlawful on-line and offline betting.
ED raided premises linked to Satish Krishna Sail on August 13 and 14 after he was convicted by a Bengaluru courtroom beneath the Prevention of Corruption Act. He’s accused of unlawful export of iron ore fines.
ED mentioned that its investigation revealed Satish Krishna Sail, in collusion with different enterprise entities and Belekeri port officers, had illegally exported iron ore fines (particles) weighing practically 1.25 lakh metric ton—which have been beneath the forest division’s orders of seizure—between April 19, 2010, and June 10, 2010.
“The full worth of the unlawful exports carried out by Satish Krishna Sail via this firm was Rs 86.78 crore,” ED mentioned in a press release.
The August 13 and 14 raids resulted within the seizure of Rs 1.41 crore from Satish Krishna Sail’s residence and Rs 27 Lakh from the workplace premises of M/s Sri Lal Mahal Ltd. Additional, gold weighing 6.75 kg within the type of jewelry or bullion was additionally seized from a financial institution locker of Sail’s household, ED mentioned within the assertion.
Financial institution accounts of accused individuals and entities—M/s Shree Mallikarjun Delivery Pvt Ltd, Satish Krishna Sail, M/s Ashapura Minechem Ltd, and so forth—containing Rs 14.13 crore have been frozen through the search operations, which additionally revealed incriminating proof within the type of paperwork, emails, and different information, based on ED.