ED arrests yet one more particular person in KIADB double compensation rip-off in Karnataka

The Bengaluru zonal workplace authorities of the Directorate of Enforcement (ED) have arrested one other particular person in reference to the ‘double compensation’ rip-off within the Karnataka Industrial Space Improvement Board (KIADB), Dharwad. A court docket has remanded the accused to the custody of ED for additional interrogation.

Earlier, ED had arrested two individuals in reference to the case in 2024, together with the mastermind V.D. Sajjan, a retired Particular Land Acquisition Officer, Dharwad. Mr. Sajjan is accused of getting ‘double compensation’ launched for land acquired in collusion with KIADB and financial institution officers.

Based on the ED, the accused Ravi Yallappa Kurbett was arrested on July 8. He was produced earlier than the Third Further District and Periods Decide (PMLA) at Mangaluru on July 9. The court docket granted ED custody of the arrested particular person for seven days.

ED acknowledged that the proof and paperwork collected through the course of the investigation within the case in opposition to V.D. Sajjan and others, beneath provisions of the Prevention of Cash Laundering Act (PMLA), 2002, had indicated the lively involvement of Ravi Yallappa Kurbett.

The investigation has revealed an ingenious modus operandi utilized by the accused individuals to fraudulently declare and withdraw double compensation from KIABD within the identify of individuals who had already acquired compensation, or who had already handed away.  

Ravi Yallappa Kurbett performed an instrumental function on this total course of. He has been a serious beneficiary of POC (Proceeds of Crime) generated within the rip-off, and has utilised the POC for buy of immovable properties in his identify and within the identify of his family, and for private consumption, the ED claimed.

The ED has connected properties amounting to round ₹13 crore in reference to the case.