Congress MLA collected Rs 42 crore cash just before Karnataka polls: Probe agency
Congress MLA Nara Bharath Reddy, whose properties were raided by the Enforcement Directorate on February 10, had amassed Rs 42 crore in cash in the months preceding the 2023 Karnataka Assembly elections, the probe agency has claimed.
In Short
- Congress MLA Bharath Reddy's properties were raided by probe agency
- 'Unaccounted' cash worth Rs 31 lakh were seized during the raids
- Congress MLA mobilised crores before Assembly polls, probe agency alleged
After properties linked to Karnataka Congress MLA Nara Bharath Reddy were raided by the Enforcement Directorate for three days starting from February 10, the probe agency said that the Congress leader had mobilised Rs 42 crore in cash over the months leading up to the Assembly elections in 2023.
These funds are believed to have been used for unlawful transactions.
The raids, which took place across various locations in Karnataka and Andhra Pradesh, were part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), 2002.
The Enforcement Directorate's probe was initiated following an FIR registered in Bellary, Karnataka.
During the search operations, the probe agency uncovered a network of incriminating documents, business records, and details of both immovable and movable properties.
Among the evidence collected was unaccounted cash amounting to Rs 31 lakh, which has raised serious questions about the source and intended use of these funds.
Further investigations have also brought to light that Sharath Reddy, the brother of Bharath Reddy, made undisclosed investments in foreign-based companies.
The accused individuals are alleged to have invested in properties under benami (proxy) names and obtained suspicious loans from relatives, using their bank accounts without their knowledge.