The Directorate of Enforcement (ED) has seized Rs 1.68 crore in cash and 6.75 kilograms of gold, among other items, during its raids and search operations conducted against the Congress MLA Satish K Sail from Karwar, the official statement by the ED stated on Friday. The ED further stated that the balance in bank accounts of approximately Rs 14.13 crore has also been frozen.
The statement said, "ED, Bengaluru has conducted search operations on 13th and 14th August, 2025 at multiple locations in Karwar district, Goa, Mumbai and New Delhi under Prevention of Money Laundering Act (PMLA) in an on-going investigation into Satish Krishna Sail aka Satish Sail, MLA and others persons and entities, who were convicted by the Special Court for MPs and MLAs Bengaluru, for illegal export of iron ore fines."
"During the searches, various incriminating documents, e-mails, records, etc., cash of Rs 1.68 Crore, gold weighing 6.75 kilograms, in the form of gold jewellery/bullion have been seized," the official statement by the ED said. MLA Satish K. Sail, who was jailed in connection with an illegal mining case, is currently out on bail.
According to sources, a team of about 24 ED officers had arrived at his residence in six cars and launched a search-and-seizure operation. On October 26, 2024, the Karnataka Special Court for MLAs and MPs convicted Congress MLA Satish K. Sail to seven years of imprisonment in six cases related to the sensational Belekeri iron ore export case.
The court also imposed a fine of Rs 44 crore on him in these six cases. However, Sail later filed an appeal in the High Court against the verdict of the Special Court for MLAs and MPs. In the hearing held in November 2024, the bench headed by Justice M. Nagaprasanna directed that the order imposing the sentence on Sail be kept in abeyance.
While granting bail, the High Court instructed him to deposit 25 per cent of the fine amount. The case was registered in 2010, and the Central Bureau of Investigation (CBI) subsequently submitted a chargesheet. The court convicted the MLA in connection with all six FIRs, marking a setback for the Congress government.
Satish Sail was named as the second accused in the first case. On September 13, 2013, the CBI registered an FIR against the company owned by the convicted MLA, following directions from the Supreme Court regarding illegal mining and transportation of iron ore from the state between 2009 and 2010.
The CBI stated that within a period of eight months, Mallikarjuna Shipping Private Limited, owned by Sail, exported 7.23 lakh tonnes of iron ore through the Belekeri Port to a foreign destination. The Central Empowered Committee (CEC) report found that 88.6 lakh metric tonnes of iron ore were exported by 73 companies, whereas permits had been obtained for only 38.22 lakh metric tonnes.
The investigation revealed that the company owned by Satish Sail had illegally exported 7.23 lakh tonnes of iron ore. His house was raided in 2012, and he was arrested in 2013. He was released after spending more than a year in prison.