On October 9, 2025, the Enforcement Directorate (ED) conducted searches in Karnataka, recovering 40 kg of 24-carat gold bars worth approximately ₹50.33 crore and assets exceeding ₹100 crore from properties linked to Congress MLA K.C. Veerendra (from Chitradurga) and his associates.
SNPNEWS.IN News Update by Gurmail Kamboj: On August 23, 2025, the ED took action against Congress MLA K.C. Veerendra and his associates under the Prevention of Money Laundering Act (PMLA), 2002. He was arrested in Gangtok, Sikkim, where he was on a business trip to lease land for a casino. The ED obtained transit remand and brought him to Bengaluru. On August 24, 2025, the City Civil and Sessions Court sent him to ED custody until August 28, 2025.
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A day prior to his arrest, on August 22, 2025, the ED conducted raids at 31 locations across India, recovering ₹12 crore in cash (including foreign currency), ₹6 crore worth of gold jewelry, 10 kg of silver, and four luxury vehicles.
In connection with a money laundering case tied to unauthorized online betting platforms (such as King567 and Raja567), Veerendra and his family members allegedly spent crores on foreign trips, visas, and hospitality services through mule accounts. The estimated turnover of the online betting platforms linked to Veerendra exceeds ₹2,000 crore.
During the searches on October 9, 2025, the ED’s Bengaluru Zonal Office recovered 40 kg of 24-carat gold bars from two lockers in Chitradurga, valued at approximately ₹50.33 crore. Combined with previously seized assets worth ₹103 crore, the total value of recovered assets exceeds ₹150 crore. Earlier, on August 22, 2025, the ED had seized 21 kg of gold bars, cash, gold and silver jewelry, bank accounts, and luxury vehicles in this case.