CBI arrests 2 ex-bank officials in Haryana government fraud case
What's the story
The Central Bureau of Investigation (CBI) has arrested two former bank officials in connection with the alleged misappropriation of funds belonging to Haryana government departments. The accused, Shamim Dar and Charanjeet Singh Randhawa, are former employees of IDFC First Bank and AU Small Finance Bank respectively. They have been arrested for allegedly facilitating the diversion of public funds through fraudulent banking transactions.
Role in fraud
Dar, Randhawa helped open bank accounts for fraudulent transactions
The CBI has alleged that Dar and Randhawa helped open bank accounts used to route fraudulent transactions. These transactions involved surplus funds of Haryana government departments, which were supposed to be invested in fixed deposits. However, the funds were allegedly diverted through forged or non-existent Fixed Deposit (FD) receipts and unauthorized debit notes.
Evidence collected
Both accused played 'incriminating roles'
The CBI's investigation revealed that both Dar and Randhawa played "incriminating roles" in facilitating the opening of bank accounts and enabling transactions through which public money was siphoned off. The agency has collected evidence against the two officials during its probe. They have been arrested and will be produced before the Special CBI Court in Panchkula.
Scale of fraud
Fraud linked to IDFC First Bank's Chandigarh branch
The fraud case is linked to the Sector 32 IDFC First Bank branch in Chandigarh, where surplus funds belonging to Haryana government departments were allegedly diverted. The CBI has claimed that around ₹504 crore was siphoned off through forged documents and fraudulent financial transactions. The agency has already filed a chargesheet in the case against 17 accused, including six bank officials from IDFC First Bank and AU Small Finance Bank.