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The Enforcement Directorate (ED) arrested Congress MLA KC Veerendra from Sikkim on Saturday, leading to significant revelations about his financial dealings. The investigation has unveiled a sophisticated scheme to convert black money into white money.
Veerendra is reportedly living with his second wife in Bangalore. He established several shell companies to legitimize black money, especially through his casinos. The method involved using credit card payments in the names of individuals and later adjusting those payments with funds from cyber fraud. He also indulged in luxury purchases, including cars, often registered under the names of anonymous companies and individuals, with VIP and fancy number plates. His eldest daughter recently completed her studies in the UK.
