Bengaluru, Sep 11
The Enforcement Directorate (ED), Bengaluru Zonal Office, has provisionally attached immovable property to the extent of Rs 75 lakh of Velohar Infra Private Limited, under the provisions of Prevention of Money Laundering Act (PMLA), 2002, in a case related to misappropriating government funds from the accounts of Karnataka State Handicraft Development Corporation Limited (KSHDCL), an official said on Thursday.
An amount of Rs 5.01 crore belonging to KSHDCL was transferred to these fake accounts.
ED investigation revealed that Rs 1 crore was credited into the account of Velohar Infra Pvt. Ltd. on July 30, 2018 through three RTGS transactions from the SBI account of Corporation.
Out of this, Rs 25 lakh was withdrawn in cash and handed over to one of the accused, while the remaining Rs 75 Lakh was utilised by the company and its Director, Vijayalakshmi S, for personal and business expenses, despite being aware that the funds were Proceeds of Crime (PoC).