Former Karnataka Minister’s Assets Worth Rs 8.07 Crore Attached in Valmiki Corporation Case
Former Karnataka minister's properties attached in Valmiki scam.
The Enforcement Directorate's Bengaluru zonal office has provisionally attached immovable properties worth approximately Rs 8.07 crore belonging to former Karnataka minister B Nagendra under the Prevention of Money Laundering Act, 2002. The action stems from an ongoing investigation into the alleged misappropriation and illegal diversion of funds from the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited.
The attached assets comprise residential and commercial land parcels along with buildings. The central agency stated that despite exhaustive efforts to locate the direct proceeds of crime generated by Nagendra, a significant portion remained untraceable, leading to the attachment of equivalent-value properties to prevent frustration of further legal proceedings under the PMLA.
The probe was initiated based on multiple FIRs filed by Karnataka Police and the CBI's Banking Securities and Fraud Branch in Bengaluru concerning the misuse of corporation funds meant for scheduled tribes development. Prior search operations conducted across Karnataka and other states resulted in the arrest of six individuals, including Nagendra, and culminated in the filing of a prosecution complaint against 25 accused persons and entities on September 9, 2024, which the court took cognizance of on October 5.
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Earlier in the case, a provisional attachment order dated August 26, 2025, had frozen movable and immovable assets worth Rs 4.94 crore belonging to other accused individuals. The ED emphasized that the latest attachment targets properties equivalent in value to the unrecovered proceeds of crime, as investigations suggested these funds had either been dissipated or deliberately concealed by the former minister.
This development marks a significant escalation in the high-profile Valmiki Corporation financial irregularity case, underscoring the agency's determination to recover illicit gains and ensure accountability in the alleged large-scale diversion of public funds intended for tribal welfare programs.
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