BC Shanthakumar, assistant manager in KSFIC was actively and knowingly involved in the processes connected with proceeds of crime, Enforcement Directorate said.
A special Prevention of Money Laundering Act (PMLA) court in Bengaluru has convicted a Karnataka government employee to three years of rigorous imprisonment, more than 12 years after he was booked in a money laundering case and was accused of possessing disproportionate assets. In a statement, the Enforcement Directorate (ED) on Wednesday, October 19 said BC Shanthakumar, assistant manager in the Karnataka State Forest Industries Corporation Ltd. (KSFIC), was held guilty by the trial court.
Shanthakumar was booked by the ED in March 2010, under the criminal sections of the Prevention of Money Laundering Act (PMLA) after the probe agency took cognisance of a 2009 Karnataka Lokayukta Police FIR against him for accumulation of disproportionate assets to the tune of Rs 84,42,067, which was found to be 122.79 percent more than his known sources of income, the agency said.
“Shanthakumar was actively and knowingly involved in the processes connected with proceeds of crime,” the ED said. The agency said it had attached assets worth more than Rs 60 lakh of the government official in March 2014 and filed a charge sheet a year later before the Bengaluru court. “The investigation revealed that he was involved in the processes connected with proceeds of crime and a Provisional Attachment Order dated March 27, 2014, was issued against him thereby attaching his properties worth Rs 60,41,243,” said the agency.
On September 10, Karnataka Crime Investigation Department (CID) arrested Sushil Mantri, director of Mantri Developers, in a money laundering case. Mantri has been accused of cheating home buyers. He was arrested earlier on June 25 this year by the Enforcement Directorate (ED) in a money laundering case.
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