ED arrests former Karnataka Minister B Nagendra in money laundering probe

The Enforcement Directorate on Friday arrested former state Minister B Nagendra in connection with a money laundering probe linked to alleged irregularities in the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited sources saidThe Congress MLA was earlier in the day taken to the ED office here from his residence for questioning where he was arrested the sources saidFollowing allegations against him in connection with the scam Nagendra who was Scheduled Tribes Welfare Minister tendered his resignation on June 6Im being brought from my homeI dont know anything Nagendra told reporters as he was being taken to ED officeThe ED has carried out searches for the last two days at several places including at the premises of Nagendra and ruling Congress MLA Basanagouda Daddal who is Chairman of the CorporationThe agency covered around 20 locations in Karnataka Andhra Pradesh Telangana and Maharashtra as part of a case registered under the Prevention of Money Laundering Act PMLA the sources saidThe illegal money transfer issue involving the Corporation came to the fore after its accounts superintendent Chandrasekharan P killed himself on May 26He left behind a note claiming unauthorised transfer of Rs 187 crore belonging to the Corporation from its bank account from that Rs 8862 crore was illegally moved to various accounts allegedly belonging to wellknown IT companies and a Hyderabadbased cooperative bank among othersChandrasekharan has named the Corporations nowsuspended Managing Director J G Padmanabh accounts officer Parashuram G Durugannavar and Union Bank of India Chief Manager Suchismita Rawal in the note while also stating that the Minister had issued oral orders for transferring the fundsThe state government has constituted an SIT headed by Manish Kharbikar Additional Director General of Police Economic Offences at the Criminal Investigation Department CID to conduct the probeSIT had questioned Nagendra and Daddal on Tuesday in connection with the case Daddal appeared before SIT on Friday alsoMumbaiheadquartered Union Bank of India had also filed a complaint with the CBI in connection with embezzlement of money belonging to the Corporation involving its MG Road branch following which the premier investigation agency had initiated a probeThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever