The Enforcement Directorate (ED) conducted simultaneous searches at 18 locations across Bengaluru and Belagavi on Wednesday, linked to Karnataka Public Works Department Minister Satish Jarkiholi, his daughter Priyanka Jarkiholi, and several associates. The operation, according to sources, is part of an investigation into suspected illegal foreign investments and alleged violations of foreign exchange regulations. The raids included residences and properties in Belagavi, Gokak, and Bengaluru, with searches ongoing at the time of reporting.

The ED is examining whether funds were transferred abroad in violation of the Foreign Exchange Management Act (FEMA), 1999, and whether unofficial channels were used for transactions. The agency is reportedly scrutinising financial records, bank documents, and property papers to trace the flow of funds and establish the nature of the overseas investments. According to sources, the investigation focuses on mining ventures in Rwanda, Uganda, and other African countries, though details of the alleged investments remain unspecified.

Jarkiholi has previously stated that his visits to East Africa were connected to legitimate business and entrepreneurial activities. However, ED officials are now examining whether any of those investments breached foreign exchange or anti-money laundering regulations. The ED clarified that the latest searches are part of a fresh investigation and are not directly linked to an earlier case involving Y.D. Manjunath, an Additional Commissioner in the Excise Department and Jarkiholi's brother-in-law, though Manjunath's premises were also covered in Wednesday's operation.

The ED had previously raided properties linked to Manjunath in June in connection with alleged irregularities in the Karnataka Excise Department. Those searches, conducted under the Prevention of Money Laundering Act (PMLA), were based on a Lokayukta Police FIR and covered locations in Belagavi, Bengaluru, and Mysuru. The ED has now registered a fresh Enforcement Case Information Report (ECIR) against Satish Jarkiholi, though it is not clear whether the leads for the same came from what they found during their raids on the premises linked to Manjunath in June.

Presently, there is no clarity whether the minister is at any of the locations being raided or not. Two teams of personnel, local police, and Central reserve police are on duty outside these premises. The investigation continues, with the nature and extent of the alleged foreign investments yet to be fully disclosed.

The case against Jarkiholi is separate from the excise case, as the ED clarified. The agency described the earlier case as involving an organised syndicate with public officials, intermediaries, and private individuals engaged in systematic collection and distribution of bribes. Jarkiholi also held charge as the Excise Minister of Karnataka between 2013 and 2016, and the Jarkiholi family has significant business interests in sugar and liquor industries. The full scope of the current investigation remains under review.