Trouble mounts for Nagendra as Enforcement Directorate raids residences in Karnataka in ₹187 cr scam

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Published July 10, 2024 at 3:22pm

    A scam amounting to Rs 187 cr has taken place in Valmiki Board

    B Nagendra, former minister, detained by ED

    Opposition has upped the ante against Siddu Sarkar

The Enforcement Directorate (ED) conducted extensive raids across Karnataka, targeting multiple locations, including the residences of former minister B. Nagendra and Valmiki Development Corporation chairman Basanagouda Daddal. These actions are linked to an alleged scam involving the unauthorized transfer of ₹187 crores from the Valmiki Development Corporation.

Also Read: BJP leaders allege that State Government is focusing on Darshan to cover up Valmiki Board and MUDA scam 

The raids followed intensive questioning of Nagendra and Daddal by the Special Investigation Team (SIT) and resulted in the arrest of 11 individuals. Authorities have also seized ₹14.5 crore in connection with the scam. Karnataka’s Deputy Chief Minister, DK Shivakumar, has acknowledged the misuse of corporation funds, adding a significant dimension to the ongoing investigation.

The ED’s operations are part of a broader money laundering probe aimed at uncovering irregularities within the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited. The investigation seeks to trace the flow of funds and identify key players in the scam.

This case has drawn substantial attention due to the high-profile individuals involved and the significant amount of money in question. The ongoing probe highlights the government’s efforts to address corruption and financial misconduct within public corporations. As the investigation progresses, further developments are anticipated, potentially implicating more individuals and leading to additional recoveries of misappropriated funds.

The ED’s actions underscore a commitment to transparency and accountability, reinforcing the importance of ethical governance in public institutions.

Trouble mounts for Nagendra as Enforcement Directorate raids residences in Karnataka in ₹187 cr scam

https://newsfirstprime.com/wp-content/uploads/2024/07/B-Nagendra-pic.webp

    A scam amounting to Rs 187 cr has taken place in Valmiki Board

    B Nagendra, former minister, detained by ED

    Opposition has upped the ante against Siddu Sarkar

The Enforcement Directorate (ED) conducted extensive raids across Karnataka, targeting multiple locations, including the residences of former minister B. Nagendra and Valmiki Development Corporation chairman Basanagouda Daddal. These actions are linked to an alleged scam involving the unauthorized transfer of ₹187 crores from the Valmiki Development Corporation.

Also Read: BJP leaders allege that State Government is focusing on Darshan to cover up Valmiki Board and MUDA scam 

The raids followed intensive questioning of Nagendra and Daddal by the Special Investigation Team (SIT) and resulted in the arrest of 11 individuals. Authorities have also seized ₹14.5 crore in connection with the scam. Karnataka’s Deputy Chief Minister, DK Shivakumar, has acknowledged the misuse of corporation funds, adding a significant dimension to the ongoing investigation.

The ED’s operations are part of a broader money laundering probe aimed at uncovering irregularities within the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited. The investigation seeks to trace the flow of funds and identify key players in the scam.

This case has drawn substantial attention due to the high-profile individuals involved and the significant amount of money in question. The ongoing probe highlights the government’s efforts to address corruption and financial misconduct within public corporations. As the investigation progresses, further developments are anticipated, potentially implicating more individuals and leading to additional recoveries of misappropriated funds.

The ED’s actions underscore a commitment to transparency and accountability, reinforcing the importance of ethical governance in public institutions.

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