Karnataka Valmiki Corporation Scam: In a significant development in the Karnataka Maharshi Valmiki Scheduled Tribe Development Corporation scam, the Special Investigation Team (SIT) has seized 16 kg of gold and Rs 2.5 crore from two suspects.
According to top SIT sources, a recent raid uncovered 15 kg of gold at Satyanarayana Varma’s residence. Varma admitted that he had used funds from the scam to purchase an ultra-luxury Lamborghini. Additionally, one kg of gold was seized from Kaki Srinivas Rao. Both individuals were arrested earlier this month as the investigation progressed.
The SIT also recovered Rs 2.5 crore in cash from a builder, who had allegedly received this money from Varma for buying a luxury flat. The builder promptly returned the funds, which have been seized.
The Valmiki Corporation scam, which involves around Rs 187.33 crore, saw funds diverted from various accounts, including Rs 40 crore from the government treasury to the Union Bank of India’s MG Road branch. Of this amount, Rs 88.63 crore was illicitly transferred to at least 217 different bank accounts in Telangana, including 18 firms.
Former Minister B. Nagendra, arrested by the Enforcement Directorate, is currently in judicial custody related to the case. The scam was revealed following the suicide of Chandrasekharan P, the Accounts Superintendent of the Corporation, who detailed the financial misconduct and the involvement of Corporation and bank officials in his suicide note.
The opposition BJP has accused the ruling Congress of complicity in the scam, claiming that such large-scale transfers could not have occurred without Chief Minister Siddaramaiah’s knowledge. The Chief Minister has denied these allegations, asserting he was unaware of the scam.
