Cash recovered during ED raids on Jarkiholi
ED, over the past two days, searched 21 premises linked to the senior minister in Bengaluru, Belagavi, Gokak and Kolkata to probe his family’s undisclosed overseas investments, cross-border business links and suspected financial irregularities. The agency said Satish Jarkiholi holds nearly 40% stake in Magnitude Star SARL, a gold mining enterprise in Congo.
His daughter Priyanka Jarkiholi, MP from Chikkodi, is said to be among beneficiaries. ED, in a press release, said the search targeted officers of Bharat Vanijya Eastern, accused of paying “substantial kickbacks” to secure PWD contracts in Karnataka. “Investigations said the minister’s children, Priyanka and Rahul, along with Mahadevi Manjunath, acquired shareholdings in several overseas firms, including Eldorado Mining Resources (Congo) and Nava Aurum Mining (Zambia). Authorities seized documents related to multiple other foreign entities owning African mining assets,” the release said.
Bengaluru: Enforcement Directorate probing a FEMA (Foreign Exchange Management Act) case allegedly involving Karnataka minister Satish Jarkiholi has claimed that bribes collected from civil contractors were used to acquire stakes in African gold mining companies. The search operation covered several high-profile family members and key aides: Priyanka Jarkiholi, Satish’s son Rahul, sister Mahadevi Manjuanth, brother-in-law YD Manjunath, personal assistant Malagouda Patil, aides Raju Daragshetti, Vittal Parasannavar and Dr Girish Sonwalkar. This was allegedly funnelled into acquiring foreign assets.