In a significant pre-election operation, Karnataka Police conducted a major raid in Bellary town, resulting in the seizure of substantial assets. The raid, conducted ahead of the Lok Sabha polls 2024, led to the confiscation of Rs 5.60 crore in cash, 3 kg of gold, 103 kg of silver jewellery, and 68 silver bars.
The police uncovered large stacks of cash amounting to Rs 5.6 crore, along with significant quantities of gold and silver bars, and jewellery collectively valued at crore. The total recovery from the raid approximates to Rs 7.60 crore.
The investigation revealed that the seized assets were found in the residence of Naresh, identified as a jewellery shop owner. Naresh has been detained by the police for interrogation regarding the source and purpose of the assets.
Amid suspicions of a potential hawala connection, the police have initiated legal proceedings under section 98 of the Karnataka Police Act. Authorities plan to forward the outcomes of the investigation to the Income Tax department for further scrutiny and interrogation.
The apprehension of Naresh and the seizure of the significant cache of assets underscore the diligent efforts of Karnataka Police in combating illicit financial activities, particularly in the context of electoral processes.
