New Delhi, Nov 15 (PTI) The Enforcement Directorate on Saturday said it has filed a chargesheet against Karnataka Congress MLA Satish Krishna Sail and a company linked to him in a money laundering investigation related to alleged illegal export of iron ore worth Rs 44 crore.
The prosecution complaint was filed before a designated Prevention of Money Laundering Act (PMLA) court in Bengaluru, the federal probe agency said in a statement.
Sail, the 59-year-old legislator from the Karwar assembly seat in Uttara Kannada, and his company Shree Mallikarjun Shipping Pvt. Ltd. have been named as accused in the chargesheet, the ED said, adding that the MLA was its MD.
Sail was arrested by the ED in September.
The case against him pertains to alleged illegal export of iron ore by the company allegedly linked to him.
The ED investigation originated from a 2010 case filed by the Karnataka Lokayukta, which discovered that about 8 lakh tonnes of iron ore was illegally transported from Bellary to the Belekeri port.
This iron ore was exported by the accused persons to buyers in China, in connivance with Mahesh J Biliye, port conservator of the Belekeri port, the ED claimed to have found during its investigation.
“The criminal act of the accused persons caused a loss of Rs 44.09 crore to the government exchequer,” it said.
Sail, according to the ED, made payments worth Rs 46.18 crore to other accused persons towards the illegal purchase of the iron ore.
This seized iron ore was exported through Sail’s “undisclosed” foreign entity JI (HEBEI) Iron and Steel Investment Company Limited, Hong Kong (formerly known as Mallikarjun Shipping (HK) Ltd.), instead of being sent directly to the ultimate buyers in China, thereby “concealing and laundering” the proceeds of crime, it said.
Sail maintained several foreign bank accounts through his foreign entity in Standard Chartered Bank (Hong Kong) and in Industrial and Commercial Bank of China (Asia) (ICBC Bank), Hong Kong, the ED probe found.
The legislator’s assets worth Rs 21 crore were also attached by the ED early this month. PTI NES DIV DIV
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
