CBI finds Rs 80 lakh of diverted CREST funds used to purchase Goa property

The Central Bureau of Investigation has uncovered that Rs 80 lakh from diverted CREST (Credit Enhancement Guarantee Scheme) funds was utilised to buy a property in Goa. The finding is part of an ongoing probe into the misappropriation of scheme funds.

CREST, a credit guarantee scheme, was designed to provide credit support to targeted beneficiaries. The diversion of such funds for personal asset purchases represents a significant breach of the scheme's intended purpose and has drawn CBI scrutiny.