Karnataka IPS officer involved in extortion scheme
A senior IPS officer in Karnataka, Srinath Mahadev Joshi, and former head constable G Ningappa have been accused of running a huge extortion scheme.
They allegedly posed as Lokayukta officers to collect nearly ₹5 crore from government officials, using coded messages and then moving the money into cryptocurrency to hide their tracks.
Ningappa targeted officials with demands
After the scam surfaced, police searched Joshi's home and found links to multiple crypto wallets—Ningappa reportedly had 23 wallets holding the extorted funds.
Right now, investigations are on hold because of a court order, but the Lokayukta wants to keep digging since this case has raised serious questions about trust in the system.
So far, Ningappa faces 35 cases for targeting officials with demands ranging from ₹2 lakh to ₹25 lakh.