CBI Raids IDFC First Bank, AU Small Bank in Haryana Fraud Probe

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AuthorRiya Kapoor|Published at:
CBI Raids IDFC First Bank, AU Small Bank in Haryana Fraud Probe
Overview

The Central Bureau of Investigation (CBI) conducted significant raids across Chandigarh and Panchkula, targeting a major bank scam in Haryana. Financial records and digital evidence were seized from multiple locations. The probe involves alleged collusion between officials from IDFC First Bank and AU Small Finance Bank and public servants to misappropriate government funds. Sixteen individuals have been arrested as the investigation intensifies.

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CBI Raids Target Haryana Bank Fraud

The Central Bureau of Investigation (CBI) has searched seven locations across Chandigarh and Panchkula as part of a stepped-up probe into a major bank scam in Haryana. The investigation centers on the alleged misappropriation of government funds, involving public servants and banking officials.

Allegations Against IDFC First and AU Small Finance Banks

Official statements indicate that certain officials from IDFC First Bank and AU Small Finance Bank are accused of colluding with public servants from various Haryana government departments. Their alleged scheme involved the fraudulent diversion and misuse of state funds.

Evidence Seized and Arrests Made

The CBI's coordinated searches on May 14 included residential properties, businesses, and jewellers' showrooms. Incriminating documents, financial records, and crucial digital evidence related to the fraud were seized. The agency has already arrested 16 individuals in connection with the case.

Probe Origins and Related Investigations

The Haryana government formally handed over this investigation to the CBI. The agency is now working to uncover the full extent of the alleged financial misconduct. This development follows a separate probe by the Enforcement Directorate, which previously arrested two former employees of IDFC First Bank in connection with an unrelated Rs 645 crore embezzlement case.

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