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ED Executes Money Laundering Searches at 15 Sites Linked to Karnataka Congress MLA

Investigators are tracing proceeds of illegally exported iron ore following findings that exports far exceeded regulated limits.

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Overview

  • On August 13, the Enforcement Directorate searched roughly 15 premises tied to MLA Satish Krishna Sail across Karnataka, Goa and Mumbai under the Prevention of Money Laundering Act.
  • The operation targets potential proceeds from alleged illegal iron ore exports valued at hundreds of crores, with an estimated exchequer loss of about ₹38 crore.
  • The CBI has alleged that Sail’s Mallikarjuna Shipping Pvt. Ltd. exported 7.23 lakh tonnes of ore through Belekeri port within eight months during 2009–10.
  • The probe traces back to a 2010 Karnataka Lokayukta finding that about 8 lakh tonnes of ore were transported from Ballari to Belekeri port without proper permits.
  • Sail remains on conditional bail after the Karnataka High Court suspended his seven-year sentence in November 2024 and required a 25% deposit of his ₹44 crore fine.