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HomePoliticsCongress MLA collected Rs 42 crore in cash before Karnataka elections: Enforcement Directorate

Congress MLA collected Rs 42 crore in cash before Karnataka elections: Enforcement Directorate

The accused allegedly invested in properties under proxy names and obtained suspicious loans from relatives without their knowledge.

On February 10, the Enforcement Directorate raided properties linked to Karnataka Congress MLA Nara Bharath Reddy. The raids went on for three days. The probe agency has now revealed that the Congress leader collected Rs 42 crore in cash over months before the state Assembly elections in 2023. Reports suggested the funds were possibly utilised for unlawful transactions.

The raids took place at locations in Karnataka and Andhra Pradesh, in a case filed under relevant sections of the Prevention of Money Laundering Act (PMLA), 2002, based on a complaint filed in Bellary. ED recovered incriminating documents, business records, and information about immovable and movable properties during the raids. A total of Rs 31 lakh in cash was recovered, raising questions about the source and intent of use. Bharath had made to headlines before elections when he distributed cookers in his constituency on his birthday.

In a statement, ED said, “ED has conducted searches on 10.02.2024 under the provisions of the PMLA, 2002 at multiple locations in Karnataka and Andhra Pradesh in the matter of Surya Narayana Reddy, Bharath Reddy and others. During the searches, various incriminating documents, business records, details of immovable and movable properties and unaccounted cash of Rs 31 lakh were recovered and seized.”

Furthermore, the agency found that Bharath’s brother Sharath has undisclosed foreign investments. The accused allegedly invested in properties under proxy names and obtained suspicious loans from relatives without their knowledge.

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