 "MUDA scam: ED seizes assets worth Rs 300 cr in case against Karnataka CM Siddaramaiah")
synopsis
The Enforcement Directorate (ED) has attached over 140 immovable assets worth approximately Rs 300 crore in connection with a money laundering case linked to alleged irregularities in land allotment by the Mysuru Urban Development Authority (MUDA).
The Enforcement Directorate (ED) announced on Friday (Jan 17) that it has seized over 140 immovable properties valued at approximately Rs 300 crore in connection with a money laundering case linked to MUDA, which also involves Karnataka Chief Minister Siddaramaiah and others. The asset attachment is part of an ongoing money laundering investigation into alleged land allotment irregularities by the Mysuru Urban Development Authority (MUDA).
The federal agency stated that the attached properties are registered under the names of several individuals involved in real estate business and agency work.
"It is alleged that Siddaramaiah (a Congress leader) used his political influence to get compensation for 14 sites in the name of his wife Smt. BM Parvathi in lieu of 3 acres 16 guntas of land acquired by MUDA."
"The land was originally acquired by MUDA for Rs 3,24,700. The compensation in the form of 14 sites at posh locality is worth Rs 56 crore," the agency said.
Karnataka Chief Minister Siddaramaiah, who has been questioned by the Lokayukta in connection with the case, has consistently denied any involvement in wrongdoing by him or his family. He has dismissed the allegations as politically motivated, claiming the opposition is "fearful" of him.
The investigation revealed that numerous plots, beyond the 14 allocated to Parvathi, were "illegally" assigned by MUDA as compensation to real estate developers. These developers reportedly sold the plots for substantial profits, generating significant amounts of "unaccounted" cash, according to the findings.
The agency claimed that the profits generated were "laundered" and falsely presented as income from legitimate sources. It further alleged that plots were allocated in the names of "benami and dummy" individuals linked to influential figures and real estate developers. During the raids, incriminating "evidence" was reportedly uncovered, indicating illegal payments to the then MUDA chairman and commissioner in the form of immovable properties, MUDA plots, cash, and other benefits.
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