New Delhi: The CBI (Central Bureau of Investigation) today (Nov 16, 2004) said that Abdul Karim Telgi, the main accused in the multi-crore-stamp paper scam, has confessed to have acquired properties worth over Rs 12 crore, which he generated out of the crime.

Submitting to the Supreme Court its latest status report on the investigation into the 48 stamp paper scam cases, the agency said, "76 front companies of the criminal network of Abdul Karim Telgi have been identified so far across the country, conducting their business through 155 outlets.

"So far, 119 bank accounts have been disclosed in respect of these companies. In the 119 bank accounts, credit inflow of Rs 62 crores have so far been established," the report said.

CBI said that it was coordinating with the Central Board of Direct Taxes regarding seizure of Telgi's movable and immovable properties under Maharashtra Control of Organised Crimes Act (MCOCA) and other Special Acts.

It said that systematic faults and loopholes in the administrative procedures have been identified during the investigations into the scam, involving Rs 30,000 crore.

The status report said, "Dubious roles and conduct of a large number of public servants and other persons in public life are being established through the investigations conducted by CBI.

"It is being firmly indicated in a number of instances that the accused public servants had actively aided and abetted the organised crime syndicate of Telgi by way of obtaining pecuniary benefits," the report said.