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Arrest made in Rs 1,000 crore money laundering probe of Bengaluru co-operative bank

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Arrest made in Rs 1,000 crore money laundering probe of Bengaluru co-operative bank
(Representational Image)

New Delhi: A man has been arrested in connection with the ongoing money laundering probe against a Bengaluru-based co-operative bank for allegedly misappropriating public funds of over Rs 1,000 crore, the Enforcement Directorate said on Thursday.

Rajesh VR has been taken into custody in connection with the allegation of embezzlement and misappropriation of depositors’ money of Sri Guru Raghavendra Co-operative Bank. The ED said in a statement that he was the main beneficiary of the funds siphoned off from the bank with the connivance of the bank’s management.

The agency had arrested K Ramakrishna, chairman of this co-operative bank, in February last year.

Speaking about the role of Rajesh VR, ED said, ‘According to the RBI audit report, he has taken a loan of Rs 40.40 crore from the bank and has not repaid it’.

During investigation it was noticed that there are many FIRs against Rajesh VR and his wife in other co-operative banks/societies for defrauding the public. ED alleged that they are habitual criminals.

The ED registered a case under criminal sections of the Prevention of Money Laundering Act (PMLA) in February 2020.

The investigation revealed that the money was misappropriated by the bank employees by promising them interest rates higher than the prevailing market rates.

Fake accounts were created and money was given to various persons including bank staff without obtaining adequate security for the loan.

The agency had earlier seized property worth Rs 45.32 crore in this case.

Bengaluru

Siddaramaiah Considers NIA Probe for Rameswaram Cafe Blast

Chief Minister Siddaramaiah discusses potential NIA involvement in the investigation of the Rameswaram cafe blast.

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Siddaramaiah Considers NIA Probe for Rameswaram Cafe Blast
(Chief Minister Siddaramaiah | Photo - X/@CMofKarnataka)

Chief Minister Siddaramaiah addressed concerns regarding the Rameswaram cafe blast, emphasizing the government’s commitment to ensuring a thorough investigation. The blast, which occurred at a popular eatery in Brookfield on March 1, left 10 people injured and sparked demands for a National Investigation Agency (NIA) probe.

Siddaramaiah acknowledged that the Central Crime Branch (CCB) was currently handling the investigation. However, in response to the BJP’s call for an NIA inquiry, he stated, “We will consider it if necessary. The investigation is underway, and no suspects have been apprehended yet.”

The Chief Minister also criticized the BJP’s attempts to politicize the incident, particularly referencing their accusation of labeling Bengaluru as ‘Bomb Bangalore’ instead of ‘Brand Bangalore.’ He pointed out previous bomb blasts that occurred during BJP’s rule and questioned their accountability during those instances.

Addressing concerns over public safety, Siddaramaiah stressed the seriousness with which governments approach such incidents. “Bombings are never trivial matters. Our priority is always the safety and security of the public,” he affirmed.

He further challenged the BJP to refrain from politicizing the issue and instead focus on supporting efforts to ensure justice and prevent future incidents. “While I condemn the act of bombing, it is crucial that we do not engage in political gamesmanship at the expense of public safety,” Siddaramaiah emphasized.

In conclusion, Siddaramaiah’s remarks underscored the government’s commitment to a thorough investigation into the Rameswaram cafe blast and their willingness to consider involving the NIA if deemed necessary. He reiterated the importance of prioritizing public safety above political agendas, urging all parties to work together towards this common goal.

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Mangaluru

Bhandara Mane Demolition: Three Arrested in Ullal, Karnataka

Three arrested in Ullal for the demolition of an under-construction Bhandara Mane near Kondana Daivasthana. Get insights on the incident, legal actions, and reactions.

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Bhandara Mane Demolition: Three Arrested in Ullal, Karnataka
Photo:tv9kannada

in Ullal, Karnataka, three individuals have been apprehended by the Ullal police regarding the demolition of an under-construction “Bhandara mane” near the revered Kondana Daivasthana. Commissioner of Police Anupam Agrawal identified the arrested individuals as Muttana Shetty, Dheeraj, and Shivraj.

Bhandara Mane:

The Kondana Daivasthana, overseen by the endowment department, witnessed the unlawful demolition of the Bhandara mane structure, located on government land adjacent to the Daivasthana premises. Miscreants utilized an earthmover to carry out the demolition during the early hours of Sunday morning.

Following a complaint lodged by Kotekar TP Chief Officer Anand, the police initiated legal proceedings under various sections of the Indian Penal Code (IPC) and the Karnataka Prevention of Destruction and Loss of Property Act. The sections invoked include IPC Sections 143, 147, 148, 295, 427, along with Section 2A of the aforementioned Karnataka Act.

Interrogation of the arrested individuals revealed that the Bhandara mane construction lacked proper authorization, having been erected without consent from the Daivasthana’s 16 ‘gurikararu.’ Despite complaints to authorities like the Assistant Commissioner and Tahsildar, no corrective measures were taken, prompting the accused to take matters into their own hands.

Expressing dismay over the incident, U T Khader, Assembly Speaker and representative of the Mangalore Assembly constituency, condemned the demolition. He emphasized the significance of preserving religious structures and directed law enforcement to swiftly act against the perpetrators.

The demolition of the Bhandara mane stands as a somber event tarnishing the district’s reputation, prompting calls for justice and stricter enforcement of property laws. Stay tuned for further updates as the legal proceedings unfold in this case.

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Bengaluru

JP Nadda will reach Karnataka on Monday on a two-day visit.

BJP national president J P Nadda’s two-day visit to Belagavi includes public engagements and organisational meetings.

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JP Nadda will reach Karnataka on Monday on a two-day visit.
File Photo: JP Nadda

BJP national president J P Nadda is set for a significant two-day visit to Belagavi, Karnataka. Scheduled from Monday onwards, his visit encompasses a series of public engagements and crucial organisational meetings. On Monday, he is expected to arrive at Sambra Airport, Belagavi at 08.30 pm. The itinerary kicks off with a core committee meeting for Chikodi, Belagavi, Bagalkot, and Vijayapura parliamentary constituencies at Kakati, Belagavi at 09.00 pm.

The following day, Tuesday, holds various important events. At 11.15 am, Nadda will address the booth karyakarta sammelan at Kiwad Ground, Chikodi. This will be followed by an interaction session with beneficiaries of the Pradhan Mantri Swanidhi Yojana at ITC Welcome Hotel in Belagavi at 02.15 pm. Later in the day, at 05.15 pm, he is scheduled to interact with intellectuals at Jirge Auditorium in Belagavi.

The visit underscores BJP’s commitment to engaging with local communities and strengthening organisational structures. Stay updated on J P Nadda’s visit to Belagavi for insights into the party’s strategies and engagements.

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