Satish Jarkiholi ED Raids: Karnataka Minister Admits ₹2 Crore Cash Belongs To Family, Denies Overseas Investments

Bengaluru:  After two days of raids on his house and 18 other premises across Bengaluru, Belagavi and Goa, the Karnataka PWD Minister Satish Jarkiholi has admitted that about ₹ 2 crore cash seized by the Directorate of Enforcement (ED) belonged to him.

``The money belongs to our family and we have the account for that money. When the ED officials issue a notice to me for explanations, I will place the relevant documents before them,'' Jarkiholi told the reporters.

When asked about the claim by ED officials on his investments abroad, Jarkiholi calmly said that the investments have not been made. ``We have plans of making some investments abroad, but so far, we haven't made any. I have answered all the questions posed by ED officials and for some of the questions, for which I didn't know the answers, I have told them I don't know. If they need any further clarifications on the seized documents, I will explain to them when they issue me with a notice,'' Jarkiholi said.

Meanwhile, the ED officials have sent the cash seized from houses belonging to Jarkiholi family members at Gokak and the houses of his associates to a bank in a trunk. The ED officials asked Bank of India officials in Gokak, the home town of Jarkiholi and handed over the cash to bank officials after getting a receipt for that.

According to ED officials, they have seized more than ₹ 3 crore in cash and documents pertaining to the investment made by Satish Jarkiholi's family members abroad, including in mining industries at South Africa and Rwanda.