ED raids Bengaluru: MLA’s sons, associates in crypto-linked PMLA case
ED raids Bengaluru: MLA’s sons, associates in crypto-linked PMLA case
The Enforcement Directorate conducts 12 searches across Karnataka in a crypto-related money-laundering probe, tying associates of a Bengaluru MLA to the alleged proceeds.
The Enforcement Directorate conducted searches across Karnataka on April 20 under the Prevention of Money Laundering Act, 2002, in a cybercrime and cryptocurrency-linked money laundering case involving Srikrishna Ramesh, alias Sriki, and others. Twelve premises across the state were searched as part of the operation. The agency has alleged that the investigations tie Sriki to a broader network involved in illicit digital-asset transactions and the flow of proceeds of crime.
Among the locations targeted were premises linked to Mohammed Haris Nalapad and Omar Farook Nalapad, the sons of sitting MLA N. A. Haris of Shantinagar, Bengaluru. The ED has alleged that both individuals are close associates of Sriki and are among the key beneficiaries of the proceeds of crime connected to the case.
The raids come as part of a broader push to crack down on crypto-enabled money laundering and cybercrime, with investigators using PMLA provisions to trace the source and movement of digital funds. Officials emphasize that the investigations are ongoing and involve examining financial trails, digital records, and other documentary evidence related to the alleged illicit activity.
While details of potential charges have not been made public, the development underscores ongoing scrutiny of political-linked figures and their associates in crypto-related economic crimes. As the inquiry advances, authorities say more updates will follow as searches continue and statements are collected from those connected to the case.
