Sukhwinder Abrol arrested in Chandigarh over alleged 83.04cr CREST fraud
Big news out of Chandigarh: Sukhwinder Abrol, CREST's project director, has been arrested for allegedly pulling off an approximately ₹83.04 crore fraud.
This all started when CREST's CEO flagged suspicious transactions at IDFC First Bank earlier this month, leading to a police case against Abrol for cheating and conspiracy.
Investigators say Abrol routed CREST funds
Investigators say Abrol used his position to move money from CREST into shell companies that were later linked to Abrol and his associates, with help from bank employees.
Three IDFC First Bank staffers were already arrested earlier for their role in the scheme, and some of the stolen funds reportedly ended up in real estate deals with realtor Vikram Wadhwa.
The investigation is still on as officials try to trace more money and identify others who might be involved.