ED attaches ₹7.48 crore assets of former BWSSB chief engineer

The Enforcement Directorate on Thursday attached assets amounting to ₹7.48 crore belonging to S.M. Basavaraju, retired chief engineer of Bangalore Water Supply and Sewerage Board (BWSSB), under the Prevention of Money Laundering Act, 2002.

Assets attached included bank accounts, 3.41 kg of gold and diamond jewellery, as well as two residential sites, a commercial complex, and six residential flats in Bengaluru and Mysuru.

ED had initiated a money laundering investigation on the basis of an FIR registered by the Lokayukta under Prevention of Corruption Act. As per the chargesheet filed in 2018, Basavaraju had allegedly amassed wealth beyond his known sources of income and was in possession of disproportionate assets worth ₹4.45 crore in excess to his known sources of income.

A money laundering investigation conducted by ED revealed that Basavaraju had amassed wealth and purchased various movable and immovable properties in his name or as benami properties, in the name of his family members including his mother-in-law, said the ED in a release. Further investigation is in progress.

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Printable version | Dec 7, 2021 2:23:45 AM |

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