Noida Crorepati Bureaucrat, Yadav Singh, arrested. ’Mr 5%’ says ex Aide

Mangalore Today News Network

New Delhi, Feb 04, 2016:  Nearly 100 crores were swindled over 10 years by a ring of men allegedly headed by Yadav Singh, a bureaucrat in Uttar Pradesh, who has been arrested today by the CBI.

The fact that the country’s premier investigating agency is handling Mr Singh’s case is one indicator of the scale of the scam played out between 2002 and 2012 in the rapidly developing area of Greater Noida, a suburb of Delhi that lies across the border in Uttar Pradesh.

Mr Singh, 51, was suspended as Chief Engineer of the Noida Authority by the UP government headed by Akhilesh Yadav in 2012, after raids at multiple properties excavated diamonds worth 100 crores and two kilos of gold.

Mr Singh has been unable, sources said, to provide plausible explanations for his vast wealth before being arrested today.

The CBI has reportedly been provided important information by a junior engineer named Raminder Singh who was arrested 2015. He has allegedly revealed that on every real estate contract that was signed included an unofficial 5 per cent "commission" was charged that was distributed among the chain of government employees who colluded in the scam. Raminder Singh has said that he got a kickback of "10 paise for every hundred rupees". 

Mr Singh had been suspended on corruption charges in 2012 as well, but the state government then closed the case against him and he returned to office.