Karnataka
The Karnataka Valmiki Maharshi ST Corporation was under fire for allegedly embezzling Rs 187.33 crores. FIR was filed by manager Rajasekhar, accusing 6 bank officials of fraud.
Unauthorized transfers totalling Rs 187.33 crores occurred from a corporation's Union Bank MG Road branch account: Rs 25 crores in March, Rs 44 crores later, Rs 83 crores in May.
During the election code of conduct, funds moved from the corporation's account to various accounts without official correspondence with Union Bank, raising suspicions of fraud.
6 Bank officials, including the MD and CEO, were accused of fraud for enabling the illegal transfer of Rs 94.73 crores with fake documents.
The CBI took over the investigation into the Valmiki Corporation scam, halting the State Government's SIT probe. The move aimed to uncover illegal money transfers and withdrawals.
Before his suicide, Chandrasekhar, a corporation officer, left a note detailing the scam of Rs. 187 crore. His death and the note have become crucial elements in the investigation.
Amid pressure and accusations, Minister B. Nagendra resigned, taking moral responsibility for the scam.
An audio recording between JG Padmanabh and Parasuram implicates former minister B. Nagendra and reveals the role of Nekkunti Nagaraj and Sunil Deal in the scam.
SIT officials arrested Padmanabh and Parasuram, who were sent to Parappana Agrahara Central Jail. The scandal continues to unravel with these key arrests.
The Enforcement Directorate conducted state-wide raids, including at former minister B. Nagendra's properties, as part of the ongoing investigation into the scam.
Harish, a close aide of Nagendra, was arrested for allegedly pressuring officials. He is believed to have handled significant financial transactions linked to the scam.
Harish, a close aide of Nagendra, was arrested for allegedly pressuring officials. He is believed to have handled significant financial transactions linked to the scam.
Harish reportedly pressured officials and managed large sums of money on behalf of Nagendra. These transactions are now under the CBI's microscope.
The CBI and ED continue to uncover details of the scam. The investigation's outcome could significantly impact the political and financial landscape.