ED seizes ₹25 crore property of Jayachandra
- The seized property includes houses, farm houses and farm land.
- Jayachandra's marital relatives acted as mediators on 20% to 30% commission basis.
FollowEnforcement Directorate (ED) has seized ₹ 25 crore property of S C Jayachandra, Chief Planning Officer of State Highway Development Project, PWD department. The properties include 13 houses in Bengaluru and Chitradurga and farm houses in three different places. Jayachandra is arrest on the allegation of hoarding black money.
Also read: 5 times Bengaluru saw massive currency hauls
The primary investigation revealed that Jayachandra's relatives have helped him to accumulate this huge property. Hence, the ED has also seized the properties that are under the name of his wife, brother-in-law and other marital relatives. The investigation also revealed that the marital relatives acted as mediators on 20% to 30% commission basis.
Sources from ED say that the accused was getting new currency notes after the demonetisation. IT sleuths had raided on his house and seized more than ₹ 5.7 crores of new currency notes after the demonetisation.
Read: Karnataka CM’s aides caught with ₹4.5 crore new notes
