Karnataka Valmiki Corporation scam: ED seized assets worth 5 crores, black money used in election expenses
The Bangalore zonal office team of the ED has taken major action in the money laundering case related to Karnataka Maharishi Valmiki Scheduled Tribes Development Corporation Limited. ED has attached property worth about Rs 5 crore.
The attached property includes land and flats worth about Rs 4.45 crore, which are named after Nekkanti Nagraj, Chandra Mohan, Golapalli Kishore Reddy and Atkari Satyanarayana. Apart from this, bank accounts worth Rs 50 lakh have also been attached, which were kept in Hyderabad’s First Finance Credit Cooperative Bank Limited.
Indication towards scam in suicide note
The investigation of this case was started by ED on the basis of FIR of Karnataka Police and CBI. The FIR was lodged when KMVSTDCL employee Chandrashekhar was suicide on 26 May 2024. Chandrasekhar pointed to a big scam in the suicide note.
Investigation revealed that the corporation’s account was cheated and shifted a new account to the MG Road Branch of Union Batch of India. With the connivance of bank officials, crores of rupees were transferred to it.
Use of scam money in election
Subsequently, about 89.63 crore rupees were sent to the first Finance Credit Cooperative Bank of Hyderabad to 18 fake accounts opened with this fake account. All this happened with the connivance of the chairman and accused of the bank. The ED investigation also revealed that the scam money was used in the general election. Also, luxury cars were purchased from these money, including a Lamborghini.
Property attached worth Rs 5 crore
According to the ED, the accused made these money move around through fake companies, shell accounts, cash and gold-silver business and then used their personal use. On the basis of these evidences, ED has attached property worth about Rs 5 crore. This includes money, flats and bank accounts money. The ED has made it clear that the investigation is still going on and further attachments can be done further.
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