CBI raids 6 locations linked to alleged ₹661 crore fraud — IDFC First Bank, AU Finance Bank on radar | Today’s news

The Central Bureau of Investigation (CBI) has conducted searches at six premises in connection with its ongoing probe into an alleged large-scale embezzlement scam involving several departments of the Haryana government, Union Territory of Chandigarh and CREST Chandigarh.

“Search operations were conducted at premises located in Chandigarh, Panchkula and Delhi NCR, which include residential premises of senior public servants of Haryana Cadre and M/s. Vipam Consultancy Pvt. Ltd. and its director in connection with the irregularities committed and with regard to receipt of proceeds of crime,” the CBI said in a statement.

According to the agency, evidence emerged suggesting that civil servants “colluded with bank officials and facilitated the opening of accounts, transfers of funds and their subsequent abuse.”

Improper benefits were allegedly obtained for their facilitation and inaction in the IDFC First Bank/AU Finance Bank case.

“It was found that M/s. Vipam Consultancy Pvt. Ltd. Noida received proceeds of crime in an account which was subsequently transferred to the director’s personnel account,” the agency said in a press release.

The CBI also seized several documents, including “incriminating documents, digital devices, property documents and other relevant material”.

The CBI has taken over the case of State Vigilance & ACB Haryana and two cases initially registered at Chandigarh Economic Offenses Police Station.

“The cases relate to criminal conspiracy, misappropriation of government funds and related offenses allegedly committed in connivance with bank officials and government officials,” the CBI said.

Eight Departments of Haryana Government and 02 Departments of UT Chandigarh (Municipal Corporation Chandigarh) and CREST Chandigarh were affected by this scam leading to embezzlement ₹661 million crowns.