The Income Tax officials seized unaccounted cash of Rs 6 crore, including Rs 4.7core worth of Rs 2000 notes from the government officials’ houses and two contractors during raids in Bengaluru. The estimated value of seized money is worth Rs 30crore. As per the reports, it is the biggest seizure of cash in new currency after demonetization was announced on November 8.
Both culprits are close to CM Siddaramaih
At the same time, Income tax officials also recovered 7kg of bullion, 7kg of jewelry and high-end luxury cars bikes owned by family members of the two of authorities, IT department source said. The engineers are reportedly close to chief minister Siddaramaih and currently lead two major state –run corporations.
Although, the I-T department has not revealed the name of the raided officials and contractors, but saying the investigations are going on. I-T wing of Goa and Karnataka were formed 10 teams of investigators to raid on the officials’ residences in Sadashivanagar and RMV Extension in Bengaluru early Wednesday. “We are still investigating how the duo managed to get so many new notes of Rs 2,000, especially when people are struggling to get Rs 2,500 a day from ATMs. A source said.
Officials suspects that they have contacts with banks’ officials
The officials suspect the accused offiT cials conspired with bank officials and developers to convert huge amount of black money into white because they also found several identity cards belonging to different people and other stuff at their houses. I-T officials suspect they might have contacts with banks’ officials from where they have brought new currency against demonetised notes by giving commissions them.
At the time of the raid, officials said they seized property purchase documents from the premises and found a battery of luxury cars at one engineer’s house, who is a head of State-run road development corporation. Four luxurious cars,including a Lamborghini, and two motorcycles-MV Agusta and Ducati 749 were registered in the name of the engineers’ son.”We found several property documents, which show the engineer owns three flats at Pebble Bay in RMV Extension. Investigations are on to find out how he managed to buy high-end flats,” officials added.
Investigations are going on other areas of the state
The department may conduct more raids in the next two days if required said an official. “The message should be clear to those hoarding illegal wealth that they will not be spared”, said an official.
An official of the department said that the investigations are now going to 10 other locations in Bengaluru, Chennai, and Erode. One of the government engineers whose property, unaccounted money and jewelry seized by I-T officials is a close aide of CM Siddaramaiah.