KC Veerendra: Karnataka MLA K.C. The ED has taken major action in the illegal online speculative racket associated with Virendra. The agency has freed the MLA’s total assets worth Rs 55 crore and seized 5 luxury cars.
KC Veerendra: Karnataka MLA K.C. The ED has taken major action on the illegal online speculative racket associated with Virendra. The ED has freed the MLA’s total assets worth Rs 55 crore. ED raided Bangalore and Challekere on Tuesday. During this period, the authorities also seized 5 luxury cars, including Mercedes-Benz with VIP number. According to media reports, out of Rs 55 crore, 40.69 crore rupees were in 9 bank accounts and a demat account of the MLA. Apart from this, Rs 14.46 crore was kept in 262 mule accounts, which were used to transfer betting money.
Freeze assets worth Rs 55 crore
During this action, the main accused and MLA from Chitradurga district K.C. Virendra was in ED’s custody. On August 28, the ED extended the custody of the accused by 7 more days. The agency has evidence that it was found that it was involved in illegally earning money and washing money from fraud. This action is part of a major investigation against illegal betting. The ED first raided 31 places in Bangalore, Challekre, Panaji, Gangtok, Jodhpur, Hubli and Mumbai. A total of ₹ 12 crore cash, ₹ 6 crore gold, 10 kg silver and 4 vehicles were found in these raids.
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Virendra was running many betting websites
Investigation has revealed that Virendra was running several betting websites. According to media reports, there was a transaction of more than Rs 2,000 crore from only one payment gateway. The ED has also found evidence that Virendra’s brother K.C. Thipaswamy is running some companies in Dubai, who have connections with the matter. Investigations also suspect many other foreign companies being connected to this network.