The ED's recent 48-hour raid on the corporation's offices and Nagendra's residence resulted in Nagendra's arrest. Basanagowda Daddal, who appeared before the SIT for questioning for the second time, disappeared immediately after completing his interrogation. His current whereabouts are unknown, and neither his Yalahanka residence nor any other known location provide any clues.
Officials anticipate Daddal's imminent arrest following further questioning. Also Read: ED conducts raids in Bengaluru over Valmiki corporation scam, including ex-Minister Nagendra’s house The arrest of B. Nagendra and the disappearance of Basanagowda Daddal have triggered a broader investigation by the SIT, ED, and the Central Bureau of Investigation (CBI).
The investigation now centers on the missing members of the bank management board, as Union Bank officials remain untraced. Three investigative teams are actively searching for these officials, who are believed to have played crucial roles in the transfer of funds from the corporation's account to various other accounts. Also Read: Valmiki corporation scam: ED detains former Karnataka minister Nagendra A case has been registered against six bank officials, all of whom are currently absconding.
The SIT informed the court about their absence through a remand application. Investigators have visited the officials' home addresses, only to find their houses locked and the occupants missing. The investigative agencies are delving into the backgrounds of these bank officials, suspecting their significant involvement in the scam.
The officials are believed to have facilitated the transfer of large sums of money, with instructions potentially coming from high-ranking corporation officers. The investigation aims to uncover who authorised the money transfers from the corporation's bank account. Key questions include whether the managing director or other officers of the corporation ordered the transfers and who provided the official information for making substantial real-time gross settlement (RTGS) transactions.
With three investigative agencies collaborating on the case, the pressure is mounting on the missing officials, whose testimonies could reveal the involvement of more influential figures. Allegations suggest the purchase of luxury items, including a Benz car, with scam money. Locating and interrogating the missing officials could yield crucial information about who directed the money transfers and the details of the transactions, thereby illuminating the scheme's masterminds.
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