Money Laundering Case: Karnataka Minister B Nagendra Resigns

New Delhi: Karnataka minister B Nagendra proposed his resignation on Thursday in connection with the allegation against him in an illegal money transfer case.

Reportedly, Nagendra is involved in a multi-crore 'scam' which comes in a highlight after a government official died by suicide and left a 5-page note. On a suicide note, he mentioned the name of the minister and alleged him for orally instructed to carry out the transfer of funds to the tune of Rs 90 crore.

The note disclosed the unauthorised transfer of Rs 187 crore from the bank account of the state-run corporation, falling under the administrative purview of Nagendra's department. As per reports, approximately Rs 88.62 crore was illegally moved to several accounts reportedly associated with prominent IT companies and a cooperative bank based in Hyderabad.

On being asked about the resignation of Karnataka Minister B Nagendra, Deputy CM DK Shivakumar said that he would call a press conference. "He is calling a press conference. In the evening, he will meet the Chief Minister," Shivakumar said.