Former BJP Minister Maluru Krishnaiah Shetty convicted in Rs 7.17 cr bank fraud case
Bengaluru, Feb 06 (PTI): A special court here on Thursday convicted former Karnataka Minister and BJP leader Maluru Krishnaiah Shetty in a fraud case involving Rs 7.17 crore.
Judge Santosh Gajanana Bhat ruled that Shetty and three others had defrauded a private bank using forged documents. However, the quantum of punishment is yet to be announced.
The case, investigated by CBI, was based on a complaint lodged by the defrauded bank.
The court has found Shetty, along with co-accused Srinivas and Muniraju, guilty of multiple offenses, including criminal conspiracy and forgery.
The fraud dates back to 1993 when Shetty, through his firm Balaji Krupa Enterprises, promised housing board loans to employees of public sector enterprises. By creating fake documents in their names, he secured bank loans, of which Rs 3.53 crore remains unpaid.
The CBI investigation confirmed his involvement in the scam, leading to charges under Sections 120B (criminal conspiracy), 409 (criminal breach of trust), 419 (cheating by personation), 420 (cheating), 467 (forgery), and 471 (use of forged documents as genuine) of the IPC.
Shetty, a former MLA from Maluru, was once a close associate of ex-Karnataka Chief Minister BS Yediyurappa. As Muzrai Minister in the BJP government, he had gained attention for distributing Ganga water. He had previously spent 24 days in jail alongside Yediyurappa.
After leaving BJP to join the Congress, Shetty returned to BJP in 2017. In the 2023 Karnataka Assembly election, he sought a BJP ticket for the Gandhinagar constituency in Bengaluru, but was denied a nomination in favour of Saptagiri Gowda.
Claiming an internal agreement between the Congress and BJP led to his exclusion. Shetty contested as an independent but secured only 6,781 votes, losing the election.
With the court now holding him guilty in the bank fraud case, Shetty faces fresh legal troubles, awaiting sentencing in the coming days.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Anna University student suicide case: Five held
Tiruchirappalli (PTI): Five people have been arrested in connection with the death of the Anna University student, who jumped in front of a speeding train in Pudukottai district, police said on Tuesday.
The deceased, a third-year student from Virudhunagar district, was found dead on the railway track near Mandaiyur on the night of September 20 by the railway police, who later recovered a suicide note from his hostel room.
The student had, in the letter, alleged sexual assault, blackmail, and extortion by five men.
Following this, the police arrested the five suspects. A case has been registered, and further investigation is on.
