<p>Bengaluru: The Special Investigation Team (SIT) probing the alleged multi-crore scam at the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation arrested the chairman of a cooperative society based in Telangana’s Hyderabad. </p><p>This is the third arrest by the SIT after it was set up by the government on Friday, May 31. </p><p>Well-placed sources confirmed to <em>DH</em> that Satyanarayana, the chairman of First Finance Credit Co-Operative Society Limited, was arrested by the probe team from Hyderabad on Monday.</p>.Karnataka govt moves to secure Rs 1,000 crore in other bodies amid Valmiki corpn scam .<p>“He was brought to the city on Tuesday,” the source said, adding that the suspect’s custody would be sought for further interrogation.</p><p><em>DH</em> reported previously that Rs 89.62 crore was lien marked to First Finance Credit Co-Operative Society Limited “as the funds are transferred wrongly”.</p><p>The alleged unauthorised transfer of Rs 187 crore belonging to the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation came to the fore after accounts superintendent Chandrashekhar died by suicide on May 26 at his residence in Shivamogga.</p><p>The money was allegedly wired from the corporation’s bank account at the MG Road branch of Union Bank of India to the same bank’s other branches in March 2024. It was also claimed that Rs 89.62 crore were transferred to “well-known” IT companies and a cooperative bank based in Hyderabad.</p><p>The deceased had left behind a note alleging the misappropriation of funds and blamed J G Padmanabha, the MD of the cooperative society, accounts officer Parashurama G and Union Bank of India chief manager Suchismita Rawal for his death.</p><p>In the purported note, Chandrashekhar claimed that the minister issued oral orders for fund transfer. The state-run corporation comes under Karnataka Scheduled Tribes Welfare Minister B Nagendra. However, Nagendra’s name wasn’t explicitly mentioned in the note.</p><p>After the SIT team headed by Manish Kharbikar, Additional Director General of Police, CID (Economic Offences) was constituted, the investigators arrested Padmanabha and Parashurama G and took them into their custody for questioning. The government suspended the duo on May 29 for "dereliction of duty, negligence and violation of financial rules".</p>
<p>Bengaluru: The Special Investigation Team (SIT) probing the alleged multi-crore scam at the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation arrested the chairman of a cooperative society based in Telangana’s Hyderabad. </p><p>This is the third arrest by the SIT after it was set up by the government on Friday, May 31. </p><p>Well-placed sources confirmed to <em>DH</em> that Satyanarayana, the chairman of First Finance Credit Co-Operative Society Limited, was arrested by the probe team from Hyderabad on Monday.</p>.Karnataka govt moves to secure Rs 1,000 crore in other bodies amid Valmiki corpn scam .<p>“He was brought to the city on Tuesday,” the source said, adding that the suspect’s custody would be sought for further interrogation.</p><p><em>DH</em> reported previously that Rs 89.62 crore was lien marked to First Finance Credit Co-Operative Society Limited “as the funds are transferred wrongly”.</p><p>The alleged unauthorised transfer of Rs 187 crore belonging to the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation came to the fore after accounts superintendent Chandrashekhar died by suicide on May 26 at his residence in Shivamogga.</p><p>The money was allegedly wired from the corporation’s bank account at the MG Road branch of Union Bank of India to the same bank’s other branches in March 2024. It was also claimed that Rs 89.62 crore were transferred to “well-known” IT companies and a cooperative bank based in Hyderabad.</p><p>The deceased had left behind a note alleging the misappropriation of funds and blamed J G Padmanabha, the MD of the cooperative society, accounts officer Parashurama G and Union Bank of India chief manager Suchismita Rawal for his death.</p><p>In the purported note, Chandrashekhar claimed that the minister issued oral orders for fund transfer. The state-run corporation comes under Karnataka Scheduled Tribes Welfare Minister B Nagendra. However, Nagendra’s name wasn’t explicitly mentioned in the note.</p><p>After the SIT team headed by Manish Kharbikar, Additional Director General of Police, CID (Economic Offences) was constituted, the investigators arrested Padmanabha and Parashurama G and took them into their custody for questioning. The government suspended the duo on May 29 for "dereliction of duty, negligence and violation of financial rules".</p>