Bengaluru, July 8 -- The Enforcement Directorate (ED) has restored over Rs 3.82 crore to the Karnataka State Waqf Board following a detailed investigation into an alleged money laundering case involving bank officials and a Board employee.
The case, which originated from a police FIR, involved two officials of the now-merged Vijaya Bank and Syed Siraj Ahmed, an assistant with the Waqf Board. Authorities alleged that large sums meant for fixed deposits were fraudulently diverted using fictitious accounts.
The ED investigation revealed that the siphoned funds were transferred into the accounts of a private entity-Verkeys Realities Pvt. Ltd. Upon conclusion of the probe, a special court in Bengaluru ordered the recovery and return of the lau...