BENGALURU: The police have arrested one more accused in Maharshi Valmiki ST Development Corporation scam case. The accused, Srinivas, is alleged to have created fake accounts and transactions. He is suspected to have helped facilitate the scam by transferring crores of rupees to other accounts.
The investigations have revealed that the scam involved the creation of 193 fake accounts for illegal transactions. Sathyanarayana Varma, who is based in Hyderabad, was the mastermind behind the scam. The money was transferred to bank accounts of bar owners and crores of rupees were withdrawn from fake accounts on a percentage basis. The accused has been arrested and further investigation is on.
The investigation has also revealed that fake accounts were created in the names of various companies and money was transferred through them. The original company owners were unaware of the fake accounts created in their names.
Besides this, four FIRs have been registered in connection with the scam, including one by Vijay Krishna and Naveen at the KP Agrahara police station, and another by Raghavendra and Rekha at the Vijayanagara police station.
The investigation has revealed that over Rs 20 crore (Rs 5 crore each) was transferred in each of the four accounts, totaling Rs 100 crore. The money was transferred from the original company’s account to the fake accounts and then withdrawn from other fake accounts. The cases have been transferred to the SIT for further investigation.