Nagendra is the brains behind the ‘scam’: ED
The ED has already filed a chargesheet in this case before a special Prevention of Money Laundering Act court in Bengaluru, which has taken cognisance of the charges
by The Hindu Bureau · The Hindu:
The Enforcement Directorate (ED) on Wednesday identified Congress MLA and former Minister B. Nagendra as the “mastermind” behind the alleged multi-crore scam involving the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd.
According to the agency, funds diverted from this State-run entity were used to support a candidate in the Lok Sabha elections. The ED has already filed a chargesheet in this case before a special Prevention of Money Laundering Act court in Bengaluru, which has taken cognisance of the charges.
The ED’s statement named Mr. Nagendra, a former Minister for Scheduled Tribes Welfare, as the prime accused, along with 24 others, including key associates such as Satyanarayana Varma, Etakari Satyanarayana, J.G. Padmanabha, Nageshwar Rao, Nekkenti Nagaraj, and Vijay Kumar Gowda.
“Under the influence of B. Nagendra, the account of the corporation (Karnataka Maharshi Valmiki ST Development Corporation) was moved to the M.G. Road Branch without any proper authorisation, where ₹187 crore, including ₹ 43.33 crore from the State treasury under the Ganga Kalyana Scheme, was deposited without following proper procedures and in violation of government guidelines,” the ED release stated.
These funds were allegedly siphoned off through shell accounts and converted into cash and bullion. The ED further stated in the release that ₹20.19 crore of the diverted funds were used to support a candidate in the 2024 Lok Sabha elections from the Ballari constituency and to cover Mr. Nagendra’s personal expenses.
Published - October 09, 2024 09:47 pm IST