Former Karnataka official’s Rs.25-cr assets seized
The accused is Karnataka�s ex-chief project officer of highway development department SC Jayachandra, who was arrested by the ED in December under the Prevention of Money Laundering Act
The Enforcement Department on Tuesday attached assets worth Rs.25 crore, allegedly acquired by Karnataka’s ex-chief project officer of highway development department, in connection with its money laundering probe registered post demonetisation.
The agency identified the accused as SC Jayachandra, who was also arrested by the agency in December under the Prevention of Money Laundering Act. He is in judicial custody at present.
The seized assets consist of about 13 residential properties, 3 agricultural lands and a farm house and are mostly in the vicinity of Bengaluru and in Chitradurga district of the state.
The case emerges from a December 1, 2016, seizure made by the Income Tax department in Bengaluru of Rs.5.7 crore in new Rs.2000 notes.
The ED had registered a money laundering case against seven people, including Jayachandra, based on a CBI FIR in the case and had seized new notes worth Rs.91.94 lakh in Rs.2000 notes from them.