CBI Raids Premises Of Karnataka Ex-Minister's Relatives In Valmiki Corporation Case
The CBI on Monday conducted searches at 16 locations across Karnataka and Andhra Pradesh in connection with the alleged siphoning off government funds from the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited (KMVSTDCL).
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The CBI executed searches at 16 locations throughout Karnataka and Andhra Pradesh on Monday regarding the alleged misappropriation of government funds from the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation.
These searches targeted the homes and offices of former Karnataka Minister B Nagendra's sister, brother-in-law, personal assistant, and other close associates.
According to officials, the searches yielded incriminating evidence including documents, property deeds, bank statements, and information about vehicles believed to be purchased with proceeds from the alleged criminal activities.
The Valmiki Corporation, established in 2006, was created to implement development programs designed to enhance the socio-economic conditions of Scheduled Tribe communities in the state.
The investigation began on June 3 last year following a complaint filed by the Deputy General Manager of Union Bank of India.
The complaint alleged that approximately Rs 84.63 crore was misappropriated between February and May 2024 through unauthorized transfers and withdrawals from KMVSTDCL's account with Union Bank of India's MG Road Branch in Bengaluru.
The Karnataka High Court has been overseeing the investigation, with the CBI having submitted four status reports to date.
During its investigation, the agency discovered additional diversions of funds from the Scheduled Tribes Welfare Department and the Karnataka German Technical Training Institute (KGTTI).
The CBI claims that Rs 2.17 crore from the ST Welfare Department was channeled through intermediary companies into a private firm connected to a close associate of the minister, with approximately Rs 1.20 crore ultimately reaching the minister's relatives and personal assistant.
Funds were also traced to the owner of a Bellary farmhouse frequently utilized by the minister.
Additionally, around Rs 64 lakh from KGTTI accounts were allegedly funneled into accounts belonging to relatives of the minister's associate through intermediaries.
The CBI has confirmed that the investigation remains ongoing.