Bengaluru: Enforcement Directorate probing a FEMA (Foreign Exchange Management Act) case allegedly involving Karnataka minister Satish Jarkiholi has claimed that bribes collected from civil contractors were used to acquire stakes in African gold mining companies. His daughter Priyanka Jarkiholi, MP from Chikkodi, is said to be among beneficiaries.ED, over the past two days, searched 21 premises linked to the senior minister in Bengaluru, Belagavi, Gokak and Kolkata to probe his family’s undisclosed overseas investments, cross-border business links and suspected financial irregularities.The search operation covered several high-profile family members and key aides: Priyanka Jarkiholi, Satish’s son Rahul, sister Mahadevi Manjuanth, brother-in-law YD Manjunath, personal assistant Malagouda Patil, aides Raju Daragshetti, Vittal Parasannavar and Dr Girish Sonwalkar.ED, in a press release, said the search targeted officers of Bharat Vanijya Eastern, accused of paying “substantial kickbacks” to secure PWD contracts in Karnataka. This was allegedly funnelled into acquiring foreign assets.“Investigations said the minister’s children, Priyanka and Rahul, along with Mahadevi Manjunath, acquired shareholdings in several overseas firms, including Eldorado Mining Resources (Congo) and Nava Aurum Mining (Zambia). The agency said Satish Jarkiholi holds nearly 40% stake in Magnitude Star SARL, a gold mining enterprise in Congo. Authorities seized documents related to multiple other foreign entities owning African mining assets,” the release said.Enforcement officials seized ₹3.3 crore in cash, besides ₹15 lakh in foreign currencies.Digital devices and documents were confiscated, pointing to bribe money collected from contractors like BVEPL, routed through accounts managed by Manjunath and other influential figures.
