The raids, which began on Wednesday, involve emergency service detectives searching homes, offices, computers and laptops.
Raids are currently underway at the apartment of Nagendra, who faces threat of arrest, in the upscale Dollars Colony locality in Bengaluru.
Detectives have summoned four associates of Nagendra for questioning.
Raids are also being carried out in Bellary city at the residence and properties belonging to Nagendra, sources said.
Sources added that Nagendra is continuously questioned by ED detectives.
Investigation has revealed that the money was transferred to the alleged Andhra Pradesh finance company through a fake bank account. The finance company's funds were transferred to more than 200 accounts.
The money was transferred to accounts of bars, jewelery stores and IT companies.
Each account received transfers ranging between Rs 10 lakh and Rs 20 lakh.
Nagendra has been intensively questioned by ED officials over opening fake accounts and handing over the money to Bellary after withdrawing it from fake accounts in Andhra Pradesh and Telangana, sources claimed.
ED detectives have also continued raids at the house and properties of Congress MP Basanagouda Daddal.
Daddal's family members are also being questioned in connection with the case in Bengaluru and Raichur cities.
Daddal is also in danger of being arrested.
Meanwhile, ED officials seized mobile phones of 19 officials of Valmiki Corporation and also seized property documents.
The officials seized the corporation's CCTV camera DVR, fake seals, the corporation's account book, bank account statements and records signed by senior officials of the Padmanabha Board and Parashuram.
In addition, evidence already collected by the SIT carrying out the ongoing investigation has been seized.
It is suspected that the property was acquired with funds from the Valmiki Corporation and the property documents were seized from the accused.
ED officials have taken possession of all related records to investigate who received money from the Valmiki Corporation account.
It is suspected that funds were transferred from Hyderabad to Bellary accounts. ED officials are also investigating the transfer of funds to jewelry stores, liquor stores and other places, sources explain.
The Special Investigation Team (SIT) formed by the state government arrested 11 people in connection with the case, including senior officials of Union Bank of India, board officials, middlemen and associates of Nagendra and Daddal. The arrests were also made in the city of Hyderabad.
The ED detained Nagendra's personal assistant Harish on Wednesday. Sources reveal that Nagendra and Daddal could be arrested any time.
Authorities have so far seized cash and gold worth more than Rs 35 million.
Raids are currently underway at the apartment of Nagendra, who faces threat of arrest, in the upscale Dollars Colony locality in Bengaluru.
Detectives have summoned four associates of Nagendra for questioning.
Raids are also being carried out in Bellary city at the residence and properties belonging to Nagendra, sources said.
Sources added that Nagendra is continuously questioned by ED detectives.
Investigation has revealed that the money was transferred to the alleged Andhra Pradesh finance company through a fake bank account. The finance company's funds were transferred to more than 200 accounts.
The money was transferred to accounts of bars, jewelery stores and IT companies.
Each account received transfers ranging between Rs 10 lakh and Rs 20 lakh.
Nagendra has been intensively questioned by ED officials over opening fake accounts and handing over the money to Bellary after withdrawing it from fake accounts in Andhra Pradesh and Telangana, sources claimed.
ED detectives have also continued raids at the house and properties of Congress MP Basanagouda Daddal.
Daddal's family members are also being questioned in connection with the case in Bengaluru and Raichur cities.
Daddal is also in danger of being arrested.
Meanwhile, ED officials seized mobile phones of 19 officials of Valmiki Corporation and also seized property documents.
The officials seized the corporation's CCTV camera DVR, fake seals, the corporation's account book, bank account statements and records signed by senior officials of the Padmanabha Board and Parashuram.
In addition, evidence already collected by the SIT carrying out the ongoing investigation has been seized.
It is suspected that the property was acquired with funds from the Valmiki Corporation and the property documents were seized from the accused.
ED officials have taken possession of all related records to investigate who received money from the Valmiki Corporation account.
It is suspected that funds were transferred from Hyderabad to Bellary accounts. ED officials are also investigating the transfer of funds to jewelry stores, liquor stores and other places, sources explain.
The Special Investigation Team (SIT) formed by the state government arrested 11 people in connection with the case, including senior officials of Union Bank of India, board officials, middlemen and associates of Nagendra and Daddal. The arrests were also made in the city of Hyderabad.
The ED detained Nagendra's personal assistant Harish on Wednesday. Sources reveal that Nagendra and Daddal could be arrested any time.
Authorities have so far seized cash and gold worth more than Rs 35 million.
