Bengaluru: In a major breakthrough in the ongoing investigation into the multi-crore Valmiki corporation scam, an man accused of opening a fake account in Hyderabad has been apprehended.
The Special Investigation Team (SIT) leading the probe successfully arrested the accused man, Satyanarayana Verma, from Hyderabad on charges of creating a fraudulent account. It was discovered that Verma had opened 18 bank accounts using different company names, all of which were linked to the Valmiki Corporation.
Upon further scrutiny, it was confirmed that one of these accounts was indeed fabricated. Armed with this information, the SIT meticulously gathered intelligence to track down and capture the individual responsible for this illegal act. The operation proved fruitful as Verma was apprehended and found to be in possession of an astonishing haul comprising 16 kilograms of gold and a staggering sum of Rs 10 crore in cash.
Transporting Verma back to Bengaluru, where further legal proceedings will commence, top officials from the SIT are determined to ensure justice is served.
This arrest comes amidst revelations that a total of Rs 94.73 crore had been illicitly transferred from an account belonging to Maharshi Valmiki Development Corporation Limited into these fraudulent bank accounts. These transactions were conducted through Union Bank of India’s branch located on MG Road.
The state government promptly established an SIT with the sole purpose of thoroughly investigating this financial scandal. As part of their relentless pursuit for truth, former Managing Director Padmanabha, Accountant Parasuram, and ex-Minister, have all faced arrest and subsequent questioning by authorities thus far.
Amidst these developments unfolding rapidly, the SCST welfare affairs Minister Nagendra has chosen to tender his resignation from his position. This decision comes as he finds himself embroiled in controversy surrounding this high-profile case.
As investigations continue into this extensive embezzlement scheme involving the Valmiki Corporation scam, law enforcement agencies remain dedicated to unearthing every detail associated with it.
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