Shivamogga (Karnataka): The sleuths of the Enforcement Directorate raided the residences and the farm house of Shivamogga DCC Bank president and Congress leader RM Manjunath Gowda on Thursday.
Sources said the raids that have been going on since morning, were conducted on the residences of Manjunath Gowda in Shivamogga and Thirthahalli in connection with a fake gold pledging case that came to light in 2014.
Simultaneous raids were conducted on his two houses in Thirthahalli and one in Sharavathi Nagar in Shivamogga city.
A team of 15 officers is conducting the raids and armed policemen are guarding the premises.
The fake gold pledging scam was committed between 2012 and 2014 at the Shivamogga city unit of the DCC Bank.
The authorities had arrested then president Gowda, vice president, branch manager and general manager. The DCC bank management was asked to provide information regarding 32 accounts, details of account holders and the KYC process.
–IANS