R Ashoka. File image: TBL archive.
Bengaluru: Karnataka Legislative Assembly Leader of the Opposition R. Ashoka has demanded accountability from the Congress leadership over an alleged diversion of funds belonging to the Dr. B.R. Ambedkar Development Corporation Ltd. (ADCL), citing an Enforcement Directorate press release dated October 14.
Ashoka alleged that more than ₹14.95 crore had been siphoned off through a fake current account, forged documents and premature closure of fixed deposits. He asked Rahul Gandhi to answer questions about the handling of welfare funds in Karnataka and accused the state Congress government of misusing money intended for Scheduled Castes and Scheduled Tribes.
First it was the ₹187 crore loot in the Maharshi Valmiki Scheduled Tribes Development Corporation, and now it is the Dr. B.R. Ambedkar Development Corporation.
— R. Ashoka (@RAshokaBJP) October 16, 2026
The Enforcement Directorate’s press release dated October 14, 2026, exposes yet another massive financial fraud under the Karnataka Congress Government.
Over ₹14.95 crore belonging to the Dr. B.R. Ambedkar Development Corporation (ADCL) was siphoned off through fake current accounts, forged documents, and premature closure of fixed deposits.
Is this what @RahulGandhi calls "Nyay"?
While Rahul Gandhi lectures the nation on social justice, the @INCKarnataka Govt in Karnataka is systematically looting funds meant for the upliftment of Scheduled Castes and Scheduled Tribes. First, ₹187 crore designated for the Valmiki ST community vanished into thin air, and now funds dedicated to Dalit development under Dr. B.R. Ambedkar’s name have been laundered.
Rahul Gandhi must answer to the people of Karnataka. Why is there utter silence from the @INCIndia leadership when the state treasury and Dalit welfare funds are being plundered under their watch?
The @BJP4Karnataka will not rest until every single person involved in these scams is brought to justice. We demand immediate accountability and full transparency for the people of Karnataka.
#CongressLootsKarnataka #CongressFailsKarnataka
ED release describes alleged bank-account fraud
The ED release attached to Ashoka’s post says its Bengaluru Zonal Office filed a supplementary prosecution complaint on October 5 before the Special Court under the Prevention of Money Laundering Act (PMLA) in Bengaluru against five accused persons, including Ayub Sayyed.
The agency said its investigation arose from a CBI Anti-Corruption Branch FIR in Bengaluru under provisions of the Indian Penal Code and the Prevention of Corruption Act.
According to the release, a current account in ADCL’s name was fraudulently opened at the State Bank of Mysore’s HAL II Stage branch using forged documents and impersonation. Four fixed deposits of ₹5 crore each were allegedly closed prematurely using forged TDR/FDR instruments and fabricated pre-closure letters, resulting in the diversion of approximately ₹14.95 crore.
The ED said the proceeds were layered through multiple bank accounts of individuals and entities, followed by transfers and cash withdrawals to conceal their origin. It also cited statements recorded under Section 50 of the PMLA concerning the receipt, transfer and withdrawal of the funds.
Earlier complaint and attachment
The release says an earlier prosecution complaint was filed on March 25 against 15 persons and entities, seeking confiscation of assets worth approximately ₹6.02 crore. A second provisional attachment order dated July 22 covered immovable assets worth ₹24 lakh belonging to one accused person. Further investigation is in progress, the agency said.
Ashoka compared the allegations with the ₹187 crore Valmiki corporation case and said the BJP would press for accountability and transparency.
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