Bengaluru: The investigation into the multi-crore rupee Valmiki Corporation Scam involving the Maharshi Valmiki Scheduled Tribes Development Corporation has gained momentum as the Criminal Investigation Department (CID) and Special Investigation Team (SIT) intensify their efforts.
A significant breakthrough occurred with the discovery of a gold stash in the residence of Satyanarayana Verma, the primary accused in the scandal. According to high-level SIT sources, the team has seized 10 kg of gold biscuits from Verma’s house.
The SIT team revealed that Verma used illicit funds from the Valmiki scam to purchase gold. Under intense interrogation, Verma disclosed that he possessed 15 kg of gold.
Following his confession, he led the SIT officers to his plot in Hyderabad, where he had hidden 10 kg of gold bullion. The SIT is currently in pursuit of the remaining 5 kg of gold biscuits. Sources indicate that Verma had acquired a total of 35 kg of gold biscuits using the funds.
Despite a week-long search by the SIT, Verma initially managed to evade capture. Eventually, the authorities apprehended him by targeting his close associates and executing a strategic operation.
By the time of his arrest, Verma had already concealed the stolen money and gold in various locations.
Upon Verma’s transfer to Bangalore for questioning, he remained tight-lipped about the whereabouts of the funds and his real estate purchases. Subsequently, the SIT obtained a court-issued search warrant and raided Verma’s flat in Hyderabad.
During the search, the team uncovered documentation confirming the purchase of 11 flats, including two flats each from Wasavi Builders in Seema Town, Mea Pura, Hyderabad. Additionally, they discovered Rs 8 crore in cash hidden in the Hyderabad flat, along with another Rs 8 crore in a bag. The team utilized a money -ounting machine to tally the seized cash.
To date, the SIT has arrested 12 individuals in connection with the Valmiki Corporation Scam. Of these, nine have been remanded to judicial custody, while three remain in police custody for further investigation. The SIT’s ongoing efforts aim to uncover the full extent of the scam, recover the remaining stolen assets, and hold all those involved accountable.
| 
