KSAMB fund scam: CCB files chargesheet on 12 persons

Team Udayavani, May 1, 2020, 9:49 AM IST

Bengaluru: Central Crime Branch has filed a chargesheet holding 12 persons in KSAMB fund scam. CCB had earlier busted a major scam where a sum of Rs 48 crore, belonging to Karnataka State Agricultural Marketing Board (KSAMB) was stolen by corrupt officials in KSAMB and Syndicate Bank.

Now, a 1,400 page chargesheet holding 12 persons , including divisional general manager of KSAMB Siddalingaiah, general manager and manager of syndicate bank, Uttarahalli branch as the prime accused has been filed.

The scam came to light earlier in January when the managing director of KSAMB, Kari Gowda approached the Commercial Street Police and filed a complaint stating that the board had deposited Rs 100 crore in fixed deposits in Syndicate Bank and that Rs 48 crore was missing in the total amount.

Kari Gowda, in his complaint, claimed that one of the fixed deposit certificates issued by the bank was fake. The CCB later took over the case after preliminary investigation.

CCB began an investigation and found that the remainder Rs 48 crore was transferred to more than 60 bank accounts, most of them in Chennai. The money was withdrawn from those accounts.

Initially, Jayaram, assistant manager at Syndicate Bank’s Uttarahalli branch, Siddagangaiah, deputy general manager at KSAMB and four others were arrested. Now, all the 12 accused are in judicial custody.