ED restores Rs 3.82 crore worth assets to K'taka Waqf Board
New Delhi, Jul 8 (PTI): The Enforcement Directorate on Tuesday said it has restored assets worth more than Rs 3.82 crore to the Karnataka State Waqf Board following a money laundering investigation into a case of alleged fraud against the body.
The money laundering case stems from a state police FIR filed against two Vijaya Bank officials and a man named Syed Siraj Ahmed, a first division assistant with the Waqf Board.
The Waqf Board issued two cheques of Rs 4,00,45,465 to open fixed deposit accounts in the Vijaya Bank. However, instead of opening the accounts, the money was "siphoned off" by transferring to fictitious entities, the federal agency said in a statement.
It was found, the ED said, that Rs 4 crore was transferred to the account of a company named Verkeys Realities Pvt. Ltd., which spent Rs 1.10 crore in purchasing a Mercedes car while Rs 2,72,74,444 was transferred to another account.
The agency had attached assets worth more than Rs 3.82 crore in 2017 as part of this investigation and later in March that year it filed a chargesheet against six individuals and entities including Verkeys Realities.
This prosecution complaint was filed before a special Prevention of Money Laundering Act (PMLA) court located in Bengaluru.
In line with the PMLA and its "core objective" of ensuring the "restitution" of the proceeds of crime to the legitimate victims, the ED said no objections were raised by it when the additional sessions judge considered the release of the funds to the Karnataka State Waqf Board, the rightful claimant in this case.
The agency issued a banker's cheque of Rs 3,82,74,444 to the Wakf Board on July 1, which it said, was a "significant" step forward in the ED's ongoing mission to restore the misappropriated funds to those who have been wronged.
"This release underscores the ED's commitment to ensuring justice for victims of financial crimes. ED remains resolute in its dedication to combating money laundering and ensuring that the proceeds of crime are returned to their rightful owners," the agency said.
In a significant move to restore the Proceeds of Crime (POC) to the rightful claimants, vide Hon'ble Additional Sessions Judge order dated 1/7/2025 the Directorate of Enforcement (ED), Bengaluru Zonal Office, has by released properties valued at Rs. 3,82,74,444/- to Karnataka…
— ED (@dir_ed) July 8, 2025
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Dharmasthala mass burial case: Two complainants appear before SIT in Belthangady
Belthangady: Two people, Purandara Gowda and Thularama Gowda of Dharmasthala, who had earlier filed complaints in relation to the Dharmasthala mass burial case and claimed to have witnessed the burial of bodies, spoke to the Special Investigation Team (SIT) officials on Wednesday.
Prior to the meeting, Purandara Gowda told reporters that he used to own a shop situated on the banks of River Nethravathi. “While at the shop, I had seen bodies being buried, in all likelihood, by the anonymous witness. I have, however, seen more than one person being involved in this work at the first and 13th sites identified by the witness,” he has said.
Thularama Gowda has said that he had seen the burial of bodies at sites beyond those identified by the witness. “The SIT will be provided the information on the matter,” Gowda added.
