Bengaluru, Apr 6 (UNI) The Directorate of Enforcement (ED), Bengaluru Zonal Office, has arrested BK Nagarajappa, former General Manager of the Karnataka Bhovi Development Corporation (KBDC), in connection with a Rs 97 crore money laundering case, officials said on Sunday.
According to an official press release, the arrest was made under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, following largescale search operations carried out on April four across multiple locations in Bengaluru. These included the KBDC office located at VV Tower and the residential premises of several accused and suspected persons.
The ED's action stems from multiple FIRs (first information reports) registered by the Karnataka Police, which alleged misuse and diversion of government funds meant for the Bhovi community, a Scheduled Caste group.