SIT to Probe Rs 87 Crore Fraud in Karnataka Tribal Corporation Bank

Bengaluru: The State Government on Friday constituted a Special Investigation Team (SIT) under Criminal Investigation Department (CID) to investigate the alleged fraudulent transactions in the accounts of Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited, a Government of Karnataka undertaking, in Union Bank of India, M.G. road branch Bengaluru city.

Taking note of the alleged irregularities, the Union Bank of India on Thursday lodged a formal complaint with the Central Bureau of Investigation to probe the alleged irregularities. The alleged irregularities are about to be Rs 87 crore.

The SIT investigation into the alleged fraudulent bank transactions in Maharshi Valmiki Scheduled Tribes Development Corporation Limited will be headed by Manish Kharbikar, Additional Director General of Police for Criminal Investigation Department (CID) Economic Offences and its members are Shivaraj Prakash, DCP Traffic, Bengaluru South, Hariram Shankar, Superintendent State Intelligence and Raghavendra Hegde, Superintendent, CID, Bengaluru are its members.

The SIT will probe the alleged suicide of Chandrashekar, superintendent of Maharshi Valmiki Scheduled Tribes Development Corporation Limited, Shivamogga district wherein a criminal case has been registered at Vinoba Nagar police station in Shivamogga based on the complaint given by the wife of the deceased on Sunday.

In a related complaint, SIT will also probe alleged financial irregularities in Maharshi Valmiki Scheduled Tribes Development Corporation Limited and a police complaint has been lodged by Chief Accounts of the Corporation A. Rajshekar and the case has been registered at Highgrounds police station in Bengaluru city.

Meanwhile, Union Bank of India on Thursday filed a complaint with the Central Bureau of Investigation (CBI) over alleged financial irregularities in its M.G. road branch of Bengaluru city in the accounts of the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited.

The fraudulent transactions at the Bank came to light after accounts superintendent of Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited allegedly committed suicide on Sunday evening and he left behind a death note in which he alleged Managing Director of the Corporation J.G. Padmanabha, accounts officer Parashuram Duggannavar and Union Bank of India Chief Manager Suchismita Rawal were accused.