Panaji (Goa): An unregistered mine trader Philip Jacob of Kerala has been arrested by the special investigation team (SIT) for his involvement in illegal trade and theft of iron ore in Goa from 2007-2011 year.

Preliminary investigation with regards to accused Philip Jacob and scrutiny of bank statements of his firm ‘Amalagiri’ revealed bank transactions in the form of RTGS  in different banks in Goa amounting to more than rupees Rs 300 crores received from different exporters and thereafter paid to mine owners in Goa

SIT SP Kartik Kashyap informed that bank transactions also suggested cash withdrawals amounting to more than Rs 130 crores by different individuals working for Philip Jacob having office styled as AMALAGIRIS situated at Aldrin plaza, Panaji. This amount was then paid to different mine owners for the purchase of unaccounted iron ore from mining lease holders and other illegal traders too.

In what could spell further trouble for the mining lease holders/mining companies in Goa who tied up with him for the mining activity, SIT found that despite being aware that Jacob was not a registered trader with the Mines department, they utilised him to trade their unaccounted iron ore in order to avoid compulsory government dues. “This is an act of theft of iron ore and causing loss to the state exchequer in crores,”he added.

The notorious trader was also arrested by Karnataka SIT and Karnataka Lokayukta for the scams reported there.

This illegal act of theft of natural resource in connivance with different lease holders couldn’t be carried out without the connivance of influential politicians bureaucrats in mines and IBM Goa department, mines ministry in Goa etc. Hence SIT will also conduct further investigation with regards to this criminal conspiracy for theft

Team TNV