Five remanded in 83 cr CREST IDFC First Bank scam
Business
Big news from Chandigarh: five people, including top CREST officials and bank staff, have been sent to judicial custody for allegedly pulling off an ₹83 crore scam.
The case centers on the renewable energy agency CREST and its accounts at IDFC First Bank.
Earlier, the main accused, Vikram Wadhwa, was also taken into custody.
CREST CEO reported suspicious transactions
The investigation is still unfolding. Two more suspects linked to a suspected shell company are set to appear in court soon.
This whole mess started when CREST's CEO noticed suspicious transactions and reported it last month.
Now, there are serious questions about how funds are managed, and CREST is calling for a full, transparent probe to get to the bottom of things.