Fake accounts were created in Company owners’ name in the alleged Karnataka Valmiki Board scam

The developments pertaining to the investigation of the alleged illegal transfer of funds in the Karnataka Maharshi Valmiki Development Board by the Special Investigation Team (SIT) have been interesting. The various means through which the illegal transfer of funds occurred has now come to light.

 Fake bank accounts were opened in the names of company owners for this purpose. The company owners were summoned for an enquiry in this regard. This was apparently done in a manner that the actual owners of the company weren’t aware of what transpired. A First Information Report (FIR) was filed against Vijaykrishna and Naveen in the K.P Agrahara Police Station. 

Rs 50 crore has been recovered thus far of which Rs 30 crore in an RBL bank account was frozen. Rs 10 crore are also believed to have been transferred to bars and jewellery shops. Reports indicate that the SIT is still on the lookout for Rs 39 crore that are not in its radar. 

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The alleged scam wherein there was misappropriation of funds amounting to Rs 187 crore had shocked the state of Karnataka. Minister of Tribal Welfare B.Nagendra offered his resignation when the scam came to light. More officials are believed to have been involved in this affair. 193 accounts are believed to have been used for the transfer of funds. Satyanarayana Verma hailing from Hyderabad is said to be the mastermind of the alleged scam.