Sandalwood IT raids: unaccounted money Rs 109 crore unearthed

The Sandalwood IT raids that took place at the prominent actors and producers residences has come to closure after three days. The raids have also shocked everyone as the concerned actors have admitted to having of Rs 109 crore unaccounted money after being unearthed by the officials. The officials unearthed Rs 2.85 crore, gold jewellery of 25.3 kg and properties worth Rs 11 crore.

Sandalwood IT Raids: Unaccounted Money Rs 109 Crore Unearthed

The IT department issued a statement which reads, “The search operation was conducted at 21 premises and surveys at 5 places. For this operation, nearly 180 Officers and officials were mobilised from various places in Karnataka and Goa region. The Department conducted discreet enquiries for more than three months before the search and identified the modus operandi and the key players.”

“Successful in unearthing evidence of suppression of income from film production distribution and exhibition as well as evidence of unaccounted cash expenditure in film. In particular evidence of unaccounted theatre collections in cash and consequential evasion of taxes have been found,” the statement added.

Also Read: IT raids at top Kannada actors’ houses