ED Returns ₹3.82 Crore to Karnataka Wakf Board in Major Money Laundering Case Recovery
Bengaluru: In a significant step towards justice, the Enforcement Directorate (ED), Bengaluru Zonal Office, has released ₹3.82 crore to the Karnataka State Wakf Board, identifying it as the rightful claimant in a high-profile money laundering case involving the misappropriation of Proceeds of Crime (POC).
The case, under ongoing investigation, names Smt. Shusheela Chintamani and others. The ED probe stems from an FIR against two officials of Vijayapura Bank and Syed Siraj Ahmed, then First Division Assistant with the Wakf Board. According to the ED, two cheques totaling ₹4 crore were issued by the Wakf Board for fixed deposits, but the money was illicitly diverted to shell entities instead.
Out of this, ₹1.10 crore was spent on a luxury Mercedes car purchased from Ghatge Motors Pvt. Ltd. by Verkeys Realities Pvt. Ltd. An additional ₹2.72 crore was redirected to M/s. Ajay Sharma Trading Corporation.
Following a thorough investigation and tracking of the money trail, ED issued a Provisional Attachment Order (PAO) of ₹3,82,74,444. A Prosecution Complaint (PC) was also filed in the Special PMLA Court in Bengaluru against six individuals, including officials of Verkeys Realities.
Subsequently, the Hon’ble Additional Sessions Judge approved the restitution of the attached funds to the Karnataka Wakf Board. On July 1, 2025, ED handed over a banker’s cheque of ₹3.82 crore to Mr. Jeelani H. Mokashi, CEO (Additional Charge), Karnataka State Wakf Board.
This move reaffirms the ED’s commitment to ensuring justice for financial crime victims and underscores its persistent efforts to combat money laundering. The recovery and return of funds aim to correct financial wrongs and support rightful claimants in regaining their dues.
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