Directorate of Enforcement (ED), Bengaluru Zonal Office has filed a Prosecution
Complaint (PC) under the Prevention of Money Laundering Act (PMLA), 2002 against R.M.
Manjunatha Gowda, Former President of SDCC Bank & Karnataka State Co-operative
Apex Bank, before the Hon’ble Special Court (PMLA) on 06.06.2025.
ED initiated investigation on the basis of one FIR registered by Shimoga Police
regarding gold loan fraud done at Shimoga District Central Co-operative Bank, City Branch
amounting to Rs. 62.77 Crore & another FIR registered by Lokayukta Police against R.M.
Manjunath Gowda for the possession of disproportionate assets to his known sources of
income to the tune of Rs. 3.95 Crore.
Earlier, ED arrested R M Manjunatha Gowda on 09.04.2025 for being found
involved in the offense of money laundering. Currently, he is under judicial custody.
In the instant case, ED attached movable and immovable properties having present
market value worth Rs. 13.91 Crore (approx.) belonging to former Chairman of Shimoga
DCC Bank, R M Manjunatha Gowda & his wife, under the provisions of PMLA, 2002.
Further investigation is under progress.
