ED seizes Cong MP Karti’s properties worth Rs 11 crore in the INX Media PMLA case

In the INX Media money laundering case, the Enforcement Directorate (ED) said on Tuesday that it has taken over Karti Chidambaram’s assets, which are worth about Rs 11,04 crore.

“One of the four properties that are connected is a fixed asset in the Coorg district of Karnataka. A spokesperson for the ED said, “The ED issued a provisional order under the Prevention of Money Laundering Act (PMLA) to seize assets worth Rs 11.04 crore.”

Karti, who is 51 years old, is a member of the Lok Sabha from Sivaganga in Tamil Nadu. His father, P Chidambaram, was a Union minister and a top Congress leader. In the INX case, both the ED and the CBI put him in jail.

In 2017, the ED opened a criminal case under the PMLA to look into claims that the FIPB should not have permitted INX Media Group.

“During the investigation by ED, it was found that illegal gratification (proceeds of crime) were received directly and indirectly from M/s INX Media Pvt Ltd, to which accused P Chidambaram had given FIPB approval, through several shell companies controlled/beneficially owned/used by another accused Karti P. Chidambaram,” the spokesperson said.

“Entities from INX Media paid illegal bribes to the company of the accused in exchange for consulting services. Over time, Rs 65.88 crore worth of dirty money has been cleaned up. A spokesman said that the money was sent to overseas accounts and invested in overseas real estate and shares of companies through shell companies that Karti Chidambaram and his close friends directly or indirectly controlled.

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