Dr.Thomas (Special Correspondent)
The Special Court under Prevention of Money Laundering Act at convicted B.C. Shanthakumar, Assistant Manager,Karnataka State Forest Industries Corporation Ltd.(KSFIC) sentenced him to undergo three years rigorous imprisonment in a Money Laundering case.
An FIR dated December 2009 was registered by Karnataka Lokayukta Police,Hassan under Prevention of Corruption Act,against B.C. Shanthakumar,for accumulation disproportionate assets to the tune of Rs. 84,42,067 which was found to be 122.79 per cent more to his known sources of income.
Based on the FIR,the Directorate of Enforcement took up the case against B.C. Shanthakumar under PMLA.
Investigation under PMLA revealed that B.C. Shanthakumar was actively and knowingly involved in the processes connected with proceeds of crime and a Provisional Attachment Order was issued against B.C. Shanthakumar thereby attaching his properties worth Rs. 60,41,243 in March 2014.
Further,a Prosecution Complaint dated March 2015 was filed by the Directorate of Enforcement against B.C. Shantha Kumar before the Addl.City Civil and Sessions Judge,Bengaluru,Special Court, PMLA,Bangalore.
The trial court found B.C.Shantakumar guilty of offence of Money Laundering and sentenced him.
