CBI Raid in Bank Fraud Case: The CBI today conducted searches at six places in Chandigarh, Panchkula and Delhi-NCR in connection with an alleged scam of Rs 661 crore involving misappropriation of government funds from departments of the Haryana government and Chandigarh administration.

As part of the ongoing investigation into the alleged misuse of funds kept in IDFC First Bank and AU Finance Bank, the CBI team has first raided the premises of senior officials of the Haryana government who were associated with the allocation of funds.

CBI team also reached Noida

The investigating agency is also targeting Noida-based Vipam Consultancy Private Limited and its directors, through whom funds are suspected to be diverted. According to the agency, eight departments of the Haryana government and two departments of the Union Territory of Chandigarh – Municipal Corporation Chandigarh and Chandigarh… were affected by this fraud.

Many evidences found in investigation

In the search conducted today, CBI has recovered many important financial documents, digital devices (laptop, phone) and records related to benami properties. An official statement said, “During the investigation, evidence has been found which shows that government employees, in connivance with bank officials, had helped in opening accounts, transferring funds and later diverting them.”

Why was the action taken?

According to the investigation, some corrupt employees of IDFC First Bank and AU Small Finance Bank, along with officials of 8 departments of Haryana Government and 2 government departments of Chandigarh Administration, had deposited the money meant for public and development works as Fixed Deposit (FD) in these banks.

Then the accused transferred that money to shell (fake) companies and personal accounts through fake checks and documents. So far 16 people have been arrested in this case. CBI has also filed the first charge sheet against 15 main accused (including 6 bank employees, 3 government officials). The next supplementary charge sheet will be filed on the basis of the evidence found in the raid conducted today.

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