THIRUVANANTHAPURAM: Around Rs 6 crore of the money embezzled from the Kerala State Lottery Agents and Sellers Welfare Fund Board was incinerated owing to the demonetisation in 2016, the prime accused in the case has revealed.
Sangeeth, a former clerk of the board and the first accused in the Rs 16-crore embezzlement case, made the revelation after he was taken back into custody following his bail after 100 days in prison.
During questioning, he told vigilance officials that he burnt around Rs 6 crore, withdrawn as Rs 500 and Rs 1,000 notes, after the demonetisation imposed on November 8, 2016, left him with no means to circulate the cash. The money, he claimed, was burnt in an incinerator on the top floor of his house at Pongumoodu.
As per vigilance officials, Sangeeth had allegedly forged the signatures of senior board officials and diverted funds to the tune of Rs 16 crore between 2012 and 2021. However, instead of transferring the money to legitimate beneficiaries, he allegedly created forged documents and withdrew the funds directly from banks.
The fraud came to light after evidence surfaced showing transfers of welfare fund money to accounts of Sangeeth’s associate Anilkumar and his brother Sampath.
Following his confession, a team led by Vigilance Inspector Anoop visited his house and collected samples from the incinerator for forensic examination. But officials admitted that chances of obtaining conclusive evidence were slim since a decade had passed. Still, bank records confirmed large-scale withdrawals in demonetised denominations during the period.
The vigilance has so far attached 35 properties allegedly acquired using the diverted funds. These include extensive land holdings and a Toyota Fortuner. It has also identified 45 property registrations at the Kazhakoottam sub-registrar office that are suspected to have been financed using the misappropriated money. Officials said Sangeeth had purchased houses in different parts of the city and may have acquired additional assets under the names of others.
Tracing continues
The probe is continuing to trace remaining proceeds of the fraud and identify any undisclosed properties linked to the accused
Officials also found papers on which Sangeeth practised the signatures of officials, from his house in Attingal