ED attaches assets worth Rs 31.35 Cr in Krantiveer Sangolli Rayanna Urban Co-Operative Society fraud case

Team Udayavani, Sep 11, 2020, 8:45 AM IST

The Enforcement Directorate attached 31 immovable assets and 32 bank accounts, amounting to Rs 31.35 crore of Anand Appugol, Chairman of Krantiveer Sangolli Rayanna Urban Co-Operative Society under Prevention of money laundering act 2002 (PMLA) in the Co-operative society fraud case on Thursday, Sep 10.

According to ED’s statement, under the PMLA based on the FIR registered by the Khadebazar Police Station, Belagavi City, in 2017 against Anand Balakrishna Appugol, Chairman of Krantiveer Sangolli Rayanna Co-Operative Society, and 15 others for embezzling more than Rs 232.69 crore collected from more than 1,300 members through fixed deposits by promising them high rate of interest ranging from 12 to 16 per cent per annum.

The accused did not return the money as promised and cheated those who invested in the society.

One of the accused Anand Appugol has produced the super hit Kannada movie “Sangolli Rayanna” starring Darshan.