CBI raids Chandigarh and Panchkula in 550cr Haryana funds fraud
The CBI just raided seven places in Chandigarh and Panchkula, digging into a more than ₹550 crore fraud involving Haryana government funds.
The money, which was supposed to be safe in IDFC First Bank and AU Small Finance Bank, was allegedly funneled out through fake companies.
Homes, business premises, and locations tied to suspected beneficiaries were all searched.
Sixteen arrested amid shell company probe
The case landed with the CBI in April after Haryana's Anti-Corruption Bureau filed an FIR earlier this year.
Investigators believe some bank officials and government employees teamed up to move public money into shell companies like Swastik Desh Project and SRR Planning Gurus Pvt Ltd.
16 people have already been arrested, and the CBI is now sifting through seized documents and digital records to figure out just how deep this scam goes.