The Directorate of Enforcement (ED) has provisionally attached assets worth Rs1.79 crore belonging to businessman K.G. Bhadraradhya in connection with a money laundering investigation linked to a bank loan fraud. The attachment order was issued on August 25 under the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED, the attached assets include two buildings located in Nagarabhavi, west Bengaluru. Bhadraradhya, along with co-accused Ashok Kumar, V. Vijayalakshmi, and Radha Agarwal alias Anjana, is accused of defrauding multiple banks by securing vehicle loans based on forged invoices. These invoices were purportedly issued by authorised car dealers of two well-known automotive brands in Bengaluru.
The Enforcement Directorate continues to investigate the matter further to identify additional assets and involved parties.
