In a significant development in the ongoing gold smuggling investigation involving Kannada actress Ranya Rao, the Enforcement Directorate (ED) has discovered a suspicious financial link involving Karnataka’s Home Minister Dr. G Parameshwara. The probe revealed a Rs 40 lakh payment made by an education trust associated with the minister toward Ranya Rao’s credit card dues.
On Wednesday, the ED conducted raids at multiple locations, including a medical college in Tumakuru linked to Dr. Parameshwara, as part of a wider investigation into money laundering and illegal fund transfers. Intelligence inputs and a detailed analysis of financial transactions led the agency to carry out coordinated searches across 16 sites tied to hawala operators, shell companies, and trusts suspected to be part of the smuggling network.
Sources revealed that several hawala operators have admitted to sourcing smuggled gold through Ranya Rao, who reportedly facilitated the sale of gold to jewellers in Karnataka. The investigation uncovered multiple instances where Rao received large sums disguised as consultancy fees and fake business payments from various firms. One company allegedly listed her as a supplier of construction labour and funneled crores into her accounts without any evidence of actual services.
The case took a political turn after the ED discovered that the education trust linked to Dr. Parameshwara made a Rs 40 lakh payment to Rao’s credit card without providing any valid documents or receipts to justify the transaction. ED officials suggest that this payment was executed under Parameshwara’s instructions.
In response, Congress leaders, including Deputy Chief Minister D.K. Shivakumar, dismissed the allegations, calling them unfounded and defending Parameshwara as a “humble and simple man” with no involvement in any wrongdoing.
Further investigations by the ED have also revealed illegal foreign exchange transactions by entities operating without Reserve Bank of India approval. The agency is continuing to track the money trail, which spans several crores, to uncover the full extent of the laundering operation and political connections involved.
