Bengaluru: Satish Krishna Sail, the MLA from Karwar in Karnataka, was arrested by the Enforcement Directorate (ED) in a multi-crore money laundering case involving the illegal export of iron ore.
Sail was arrested late on Tuesday and will be produced before a court today, officials said. The arrest follows a series of search operations conducted on August 13 and 14, 2025, at multiple locations across Karwar (Uttara Kannada), Goa, Mumbai, and New Delhi under the Prevention of Money Laundering Act (PMLA), 2002.
The ED probe stems from a conviction order of the Special Court for MPs and MLAs, Bengaluru, in a case involving illegal export of 1.25 lakh metric tonnes of iron ore fines between April and June 2010. Investigators found that Sail, in collusion with business entities and port officials, facilitated exports worth Rs 86.78 crore, despite the ore being under seizure orders of the Forest Department, Ankola.
The ED seized Rs 1.41 crore in cash from Sail’s residence, Rs 27 lakh in cash from the office of Sri Lal Mahal Ltd, and 6.75 kg of gold jewellery/bullion from the Sail family’s bank locker. In addition, bank accounts belonging to the accused entities, including Shree Mallikarjun Shipping Pvt Ltd, Sail, and others, holding about Rs 14.13 crore, were frozen. Investigators also recovered incriminating documents, emails, and records.
According to officials, the investigation covers several firms, including Ashapura Minechem Ltd, Shree Lal Mahal Ltd, Swastik Steels Pvt Ltd, ILC Industries Ltd, and Sri Lakshmi Venkateshwara Minerals Ltd that are allegedly linked to the illegal exports.
