Archive · 27 May 2025
ED Attaches Properties in Karnataka Bhovi Corporation Scam
Imagine some people in charge of giving out money to help others took some of it for themselves.
The people in charge opened fake accounts to get money from the Karnataka Bhovi Development Corporation.
They then used the money to buy nice things and houses.
Now, the Enforcement Directorate is looking into this and has taken some of their properties, worth a lot of money.
The two people in charge of the money are now in jail while the investigation continues.
Enforcement Directorate attached properties worth Rs 26 crore in connection with Karnataka Bhovi Development Corporation scam.
Former General Manager BK Nagarajappa and former Managing Director R Leelavathy were arrested by ED.
Both are currently in judicial custody at Bengaluru Central Prison.
Funds were misappropriated through fake beneficiaries for loans, subsidies, and financial assistance.
Misappropriated money was used for a luxurious lifestyle and to acquire properties.
- Who
- Enforcement Directorate, BK Nagarajappa, R Leelavathy
- What
- ED attached properties worth Rs 26 crore from former officials of Karnataka Bhovi Development Corporation.
- When
- Not explicitly mentioned in the provided text
- Where
- Bengaluru
- Why
- To investigate and seize assets related to the alleged multi-crore scam at Karnataka Bhovi Development Corporation.
- Agency
- Enforcement Directorate (ED)
- Total Value of Attached Properties
- Rs 26 crore
- Key Individuals Arrested
- BK Nagarajappa and R Leelavathy
- Current Status
- Both in judicial custody
- Primary Offense
- Misappropriation of Funds
- Location
- Bengaluru