ED attaches assets of ex-Karnataka cooperative bank chairman, wife in Rs 63-cr gold loan 'fraud'
New Delhi, Jun 6 (PTI): The Enforcement Directorate on Friday said it has attached assets worth about Rs 14 crore of the former chairman of a Karnataka-based cooperative bank and his wife as part of an alleged Rs 63 crore worth gold loan scam linked money laundering case.
RM Manjunatha Gowda was arrested by the federal probe agency in April after the agency carried out raids in the case.
The former chairman of the Shimoga district co-operative central bank headquartered in Shivamogga is currently lodged in jail under judicial custody.
Immovable and movable properties having present market value worth Rs 13.91 crore belonging to Gowda and his wife have been attached under the Prevention of Money Laundering Act (PMLA) in an investigation related to gold loan scam at the city branch of the cooperative bank, the ED said in a statement.
The money laundering case stems from a complaint and chargesheet filed by the Karnataka Police where it was alleged that B Shobha, a former branch manager of the said bank, in conspiracy with other co-accused "diverted" bank funds worth Rs 62.77 crore.
The modus operandi, as per the police, involved opening "fraudulent" gold loan accounts without the knowledge of the individual account holders, utilising fake, fabricated and forged documents.
ED probe found that "large-scale misappropriation of funds took place at the Shimoga district co-operative central bank, city branch which was orchestrated primarily by the branch manager B Shobha on the instructions of R M Manjunatha Gowda".
The agency alleged the "proceeds of crime" generated by B Sobha in conspiracy with other co-accused were "laundered" and "handed-over" to Gowda.
Gowda "acquired" various movable and immovable properties from the alleged illegal funds and as per a chargesheet filed by the Lokayukta Police, he was also found to be in possession of assets "disproportionate" to his known sources of income, the ED claimed.
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Mangaluru: Man sentenced to 20 years rigorous imprisonment in POCSO case
Mangaluru: A court in Mangaluru has sentenced a 44-year-old man to 20 years of rigorous imprisonment in connection with a case under the Protection of Children from Sexual Offences (POCSO) Act.
According to Deccan Herald, the Additional District and Sessions Judge, FTSC-II (POCSO), Maanu K S, delivered the judgment.
The convict has been identified as Dayanand Moolya (44).
According to Special Public Prosecutor Sahana Devi Boloor, the incident occurred on November 16, 2025, when a seven-year-old girl was studying alone at home and the accused illegally entered the house and raped her. He threatened to kill her and throw her into a well if she revealed it to anyone.
The survivor later informed her mother, following which a complaint was registered at Mulki Police Station on November 22. Police Inspector Manjunath B S investigated the case and submitted the charge sheet to the court.
For the rape, under POCSO Section 6, along with Bharatiya Nyaya Sanhita (BNS) Act 65(2) and POCSO 4(2), the man has been sentenced to 20 years of rigorous imprisonment and a fine of Rs 30,000. For illegal entry into the house, under BNS Section 332(B), the convict has been sentenced to three years of simple imprisonment and a fine of Rs 5,000. For issuing death threats, under BNS Section 351(3), he has been sentenced to two years of simple imprisonment and a fine of Rs 5,000.
The court also directed payment of Rs 4 lakh as compensation to the survivor, including Rs 40,000 from the fine amount, and instructed the District Legal Services Authority to provide the remaining Rs 3.60 lakh.
