The ED initiated money laundering investigation against Naik on the basis of the FIR registered at Koraput Police Station under Section 13(2) read with Section 13(1)(b) of the Prevention of Corruption (Amendment) Act, against Naik.
The ED learnt in the investigation that Naik has invested his ill-gotten income, which are over and above his known sources of income, in acquiring various properties and bank investments in his name and in the name of his family members.
Further investigation is in the matter is underway.
Notably, Naik had joined State Government service as a junior clerk and was posted with the Revenue department in January 1985. He worked in different offices in Kalahandi district till March 30, 2004. Naik then resigned from Government service and entered in politics.
He was MLA of Bhawanipatna Assembly segment from 2014 to 2019.
(With inputs from IANS)