Bengaluru: ED has filed the prosecution charge against former SDCC Bank President RM Manjunath Gowda

Bengaluru, June 9 (IANS). The Bangalore Regional Office of the Directorate for Enforcement (ED) has been prosecuting (PC) against the Shimoga District Central Cooperative (SDCC) bank and former chairman of the Karnataka State Cooperative Apex Bank RM Manjunath Gowda on June 6. This action was done based on serious allegations of money laundering and financial fraud. The ED began its investigation based on a fir submitted by Shimoga police, in which the golden loan fraud worth Rs 62.77 crore in the city branch of the Shimoga District Central Cooperative Bank was unveiled. In addition, the Lokayukta police have registered another fir against Manjunath Gowda to earn assets worth more than Rs 3.95 crore from the well -known sources of income. Both of these cases continued to investigate the ED. During the investigation, the ED found that Manjunath Gowda abused his post and violated the bank’s rules and had lodged money on a large scale on a large scale on the name of the gold loan. Illegal money earned from this fraud has been invested in various movable and immovable properties. The ED seized the assets of Manjunath Gowda and his wife’s Rs 13.91 crore (current market price) under the provisions of PMLA, 2002. This includes immobile properties such as land, homes and other properties, as well as movable properties. Earlier, on April 9, the Ed Manjunath Gowda arrested for involvement in the crime of money laundering. He is currently in judicial custody. ED Investigation revealed that Gowda abused the bank’s resources by using its influence and illegally acquiring property. The investigative agency submitted several documents and evidence in the case, confirming Gowda’s alleged illegal activities. -Ians Akks/GKT Share these Story Tags