"The alleged scam was executed in year 2009 in collusion with the state government officials," Superintendent of Police (Lokayukta) Dilip Soni said today.
During that period, Verma was the chairman of the Indore Development Authority (IDA).
"The then IDA officers had allotted four plots to Faizal Ibrahim, a member of Chhatrapati Griha Nirman Sahkari Sanstha, in contravention of rules.
"Ibrahim's wife Amira was also given a permission for construction of a building on these plots under the mixed-use (residential-cum-commercial) category by the Indore Municipal Corporation in violation of rules," the officer said.
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The 15 persons were booked under section 120-B (criminal conspiracy) of the IPC and relevant sections of the Prevention of Corruption Act.
Most of the accused officers in this case already retired from service.
The Madhya Pradesh government had last month appointed Verma as the chairman of the State Electronics Development Corporation. However, he refused to accept the post citing his business.