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TMI BlogRanya Rao gold smuggling case: ED raids educational institutions linked to K'taka home ministerX X X X Extracts X X X X X X X X Extracts X X X X ..... Ranya Rao gold smuggling case: ED raids educational institutions linked to K'taka home minister X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestigation against actor Ranya Rao and others, official sources said. The raids were undertaken at 16 locations in the state under the Prevention of Money Laundering Act (PMLA), they said. The raids targeted hawala operators and accommodation entry operators who allegedly made "fake" financial transactions into the accounts of Rao, the sources said. The federal probe agency, few months bac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k, had filed a PMLA case taking cognisance of a CBI and DRI (Directorate of Revenue Intelligence) complaint into a larger gold smuggling racket in India including the case of Rao. The ED sources said an educational trust is suspected to have "diverted" funds and made a payment of Rs 40 lakh towards the credit card bill of Rao, allegedly on the instructions of an influential individual. The sou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rces claimed the trust is linked to Parameshwara and the "influential" individual is a politically exposed person. The searches found there were no supporting vouchers or documentation to "substantiate" this payment (for credit card bill payment), they said. Karnataka Chief Minister Siddaramaiah did not comment on the ED searches stating he was not aware of it. However, Congress general secr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etary in-charge of party affairs in Karnataka, Randeep Singh Surjewala, pointed out that Parameshwara was a tall SC leader and that the raids appear to be a desperate attempt to cover up the corruption of previous BJP governments and stifle the voice of those who champion the voice of the oppressed. ED sources said some hawala operators who facilitated illegal foreign exchange movement for gold ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... procurement were searched and they reportedly "admitted" to dealings with Rao. The buyers have accepted having bought gold from her and selling it to jewellers, the sources said. The raids also covered some persons and entities who provided accommodation entries (fake financial transactions, fake consultation income) into Rao's accounts and have "confessed" to routing funds to her accounts, wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thout any genuine business transactions, they said. In one case, the sources said, one of the companies has shown Rao to be a "supplier" of construction labour and paid her few crores of rupees. Similarly, she has done "money laundering" through other companies as well, they claimed. Some entities who undertake illegal forex business (without RBI approval) have also been found during the sea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rches. Rao and co-accused Tarun Kondaru Raju were granted bail on Tuesday by a special court for Economic Offences in Bengaluru in connection with the gold smuggling case. The court approved their default bail applications after the DRI failed to file a chargesheet within the stipulated period. Rao, however, will continue to remain behind bars. Authorities have filed a separate case agains ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t her under the stringent Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA), a preventive detention law designed to tackle smuggling and preserve foreign exchange reserves. Under COFEPOSA, individuals can be held without trial for up to a year based on suspicion of involvement in such activities. Rao was arrested on March 3 at the Kempegowda Internati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal Airport in Bengaluru after arriving from Dubai. Acting on a tip-off, DRI officials detained her and recovered 14.2 kg of gold bars valued at over Rs 12.56 crore from her. PTI NES/KSU KVK KVK X X X X Extracts X X X X X X X X Extracts X X X X
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