Bengaluru Court Sentences Father-Daughter Duo in Money Laundering Case

A special court in Bengaluru dealing with cases under the Prevention of Money Laundering Act (PMLA) has convicted a retired Karnataka Excise Department guard and his daughter in a money laundering case linked to alleged possession of disproportionate assets, officials said on Wednesday.

The court sentenced M Ramchandra, 60, to five years of rigorous imprisonment and imposed a fine of Rs 5 lakh on him. His daughter, R Yurekha, 32, was sentenced to three years of rigorous imprisonment and fined Rs 3 lakh under the PMLA, the officials said.

The court also ordered the confiscation of five immovable properties belonging to the father-daughter duo under the provisions of the anti-money laundering law.

The Enforcement Directorate (ED) had initiated proceedings against the two in 2009 after taking cognisance of a complaint filed by the Lokayukta Police. The complaint alleged that Ramchandra had accumulated disproportionate assets worth Rs 1.79 crore, amounting to 171 per cent more than his known sources of income, primarily his salary.

The investigation subsequently examined the alleged laundering of funds linked to the assets. According to officials, Yurekha was accused of laundering money through a company associated with the family.

The case originated from the allegations of assets disproportionate to Ramchandra's known income and was subsequently pursued by the ED under the PMLA, which provides for action against proceeds of crime linked to scheduled offences.

The conviction marks the conclusion of the proceedings before the special PMLA court against the two accused in the case. The sentences, fines and property confiscation were imposed under the provisions of the law, officials said.