CBI conducts searches at six locations in IDFC First Bank and AU Finance fraud case

The Central Bureau of Investigation (CBI) yesterday conducted searches at six premises in Chandigarh, Panchkula and Delhi- NCR region in connection with the ongoing investigation into the IDFC First Bank and AU Finance fraud case. The case is related to the misappropriation fraud and syphoning of 661 government funds in eight departments of the Haryana government and two departments of Municipal Corporation Chandigarh and CREST Chandigarh.

 

In a statement, CBI said that the search operations were carried out at residential premises of senior public servants of Haryana Cadre and a private consultant firm and its Director in connection with irregularities committed and with regard to receipt of proceeds of crime. During investigation evidences have surfaced suggesting that the public servants had colluded with bank officials and had facilitated in opening of accounts, transfer of funds and subsequent diversion thereof.

 

According to the agency, fraud is leading to misappropriation of 661 crore rupees. After completing the initial investigation, CBI has already filed the first chargesheet in the case detailing the role of public servants of two departments.