Businessman B M Farookh, who is known as the “money bag” of JD(S) ,has total assets worth a whopping Rs 778 crores, including those owned by his wife.
As per the affidavit of assets and liabilities filed by Farookh along with his nomination papers filed on Friday for the upcoming Rajya Sabha polls, his movable assets are worth Rs 87.27 crore; his immovable assets are valued at Rs 591.3 crore. He has declared that his wifes movable assets are worth Rs 9.11 crore and immovable assets worth Rs 91.23 crore.
Farookh, a mechanical engineer, is the CMO of Fiza Developers and Infrastructure Pvt Ltd.
A jetsetter, Farookh possess automobiles including cars, aircrafts, yachts and ships. While he owns jewellery/bullion worth Rs 1.64 crore; his wife owns jewellery/bullion worth Rs 2.12 crore. He has declared other assets worth Rs 2.57 crore. His liabilities stand at Rs 121.46 crore.
Farookh told DH that he was not the partys money bag. “The money bag tag has been given to me by the media. I am a dedicated worker of the party who wants to see H D Kumaraswamy emerge as the chief minister,” he added.
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