Delhi: The Enforcement Directorate (ED) has tightened the noose around former Karnataka minister B Nagendra by attaching properties worth more than ₹8 crore in connection with an alleged money laundering case linked to the Valmiki Development Corporation.
According to officials, the attached assets include four residential plots, a commercial property, and a building. The action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA) as part of an ongoing investigation into the suspected diversion of public funds.
In an official statement, the ED said investigators were unable to trace the proceeds of crime allegedly siphoned off from the Valmiki Development Corporation accounts. The agency noted that the illicit funds may have been concealed or already spent, prompting authorities to attach properties of equivalent value to safeguard public interest.
The case relates to the alleged illegal transfer of over ₹100 crore from the Valmiki Development Corporation during Nagendra’s tenure as minister. The ED had earlier arrested Nagendra as part of the probe. He is currently out on bail, while the investigation continues.
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