ED Releases ₹3.82 Cr to Waqf Board

The Directorate of Enforcement (ED), Bengaluru zonal office, has released properties valued at Rs 3,82,74,444 to the Karnataka Waqf Board, which was the victim of money laundering and the legitimate claimant in the Shusheela Chintamani and others case, currently under investigation by the ED.

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The ED stated that its investigation was on the basis of an FIR filed against two Vijaya Bank officials and Syed Siraj Ahmed, the then first division assistant with the Waqf Board. "The Waqf Board had issued two cheques amounting to Rs 4,00,45,465 to open fixed deposit accounts at Vijaya Bank. However, instead of opening the FDs, the money was siphoned off by transferring to fictitious entities," the ED