In a major development in the ongoing gold smuggling probe, the Enforcement Directorate (ED) has allegedly unearthed a ₹40 lakh transaction linking gold smuggling suspect Ranya Rao with an education trust chaired by Karnataka Home Minister G Parameshwara.
According to high-level sources within the ED’s Delhi office, investigators discovered that ₹40 lakh was diverted from the trust’s funds to settle Ranya Rao’s credit card bills, raising serious questions about the nature of the financial relationship. The transaction is said to have occurred “at the behest of an influential individual,” though no formal documentation or vouchers have been found to justify the payment.
Raids on Minister-Linked Educational Institutions
In connection with these revelations, ED teams carried out simultaneous raids at:
- Sri Siddhartha Institute of Medical Sciences and Research Center in T Begur Nelamangala (near Bengaluru)
- Sri Siddhartha Institute of Technology
- An associated institute office in Tumakuru
All these institutions are chaired by G Parameshwara, intensifying the political sensitivity of the case.
Ranya Rao’s Network: Hawala, Gold Buyers, Illegal Forex
Further investigations revealed a larger illegal financial network:
- Hawala operators linked to Ranya and involved in laundering funds from smuggled gold sales
- Buyers and jewellers who admitted purchasing smuggled gold from her
- A construction company that listed Ranya as a supplier of labour and allegedly paid her crores of rupees
- Evidence of unauthorized foreign exchange dealings involving individuals and entities operating without RBI approval
The Smuggling Case
Ranya Rao, 33, was arrested on March 3 after arriving from Dubai at Bengaluru airport. She was caught by the Directorate of Revenue Intelligence (DRI) carrying 14.2 kg of foreign-origin gold worth ₹12.56 crore, concealed on her person. The seizure was one of the largest in recent years at Kempegowda International Airport.
Her arrest has since triggered parallel probes by the ED and the Central Bureau of Investigation (CBI), both of which are exploring the broader financial and political ramifications of the smuggling network.
Political Fallout
While Home Minister G Parameshwara has not yet been formally named as an accused, the ED’s findings are likely to generate significant political turbulence in Karnataka. Opposition leaders are expected to demand clarification and accountability over the alleged misuse of trust funds and potential links to an international smuggling racket.
The ED is expected to summon more individuals associated with the trust and financial operators connected to Ranya Rao in the coming days.connected to Ranya Rao in the coming days.
