Daijiworld Media Network – New Delhi
New Delhi, Aug 16: In a significant move linked to a money laundering investigation, the Enforcement Directorate (ED) has revealed that it seized Rs 1.41 crore in cash and 6.75 kilograms of gold from the residence and family bank lockers of Congress MLA Satish Sail, following a raid conducted on Wednesday.
The action comes amid an ongoing probe into the illegal export of iron ore through the Belekeri Port, allegedly carried out by companies associated with Sail, who is the sitting MLA from Karwar. The ED confirmed the seizures in a statement released on Friday.
According to the agency, raids were conducted between August 13 and 14 across multiple locations including Karwar, Goa, Mumbai, and Delhi, as part of an extensive investigation under the Prevention of Money Laundering Act (PMLA).
Entities under ED’s scanner include Aashapura Minechem, Shri Lal Mahal, Swastik Steels (Hospet), ILC Industries, and Sri Lakshmi Venkateshwara Minerals, among others.
The ED noted that Mallikarjun Shipping Pvt Ltd, a company reportedly owned by Satish Sail, was directly involved in the illegal export of iron ore. “The Special Court for People’s Representatives in Bengaluru had earlier found these companies guilty in the case,” the agency said, adding that the present investigation is based on that conviction.
Despite this, the Karnataka high court had issued a stay on the seven-year prison sentence handed down to Sail last year.
During the recent raids, ED officials seized Rs 1.41 crore in cash from Sail’s residence, along with Rs 27 lac in cash from the office of Shri Lal Mahal Ltd. In addition, 6.75 kg of gold ornaments and bullion were recovered from lockers belonging to Sail’s family.
The agency further stated that Rs 14.13 crore held across bank accounts of various individuals and companies linked to the case has also been frozen. “Documents, emails, and digital records have been seized as evidence,” the ED added.
The investigation is ongoing, and further legal action under PMLA is expected.