CBI arrests two in embezzlement of Rs 504 crore from Haryana govt accounts

New Delhi, Jun 30 (PTI) The CBI has arrested former area head of IDFC First Bank Shamim Dar and ex-branch manager of AU Small Finance Bank Charanjeet Singh Randhawa in connection with the alleged embezzlement of Rs 504 crore of Haryana Government funds, officials said Tuesday.

It is alleged that they siphoned the amount through irregular investment of surplus funds in fixed deposits and through fraudulent transactions routed through bank accounts opened for this purpose, they said.

“Investigation revealed that both accused, in their respective capacities as bank officials, played incriminating roles in facilitating opening of bank accounts and in facilitating fraudulent transactions through which public funds were diverted,” a CBI spokesperson

said in a statement.

The CBI had taken over the investigation related to embezzlement in the government accounts maintained at the Sector 32 IDFC First Bank branch, Chandigarh.

Funds to the tune of Rs 504 crore of eight Haryana government departments were allegedly siphoned off through forged, non-existent Fixed Deposits, Debit notes and routed to shell entities, the Spokesperson said.

“So far, 17 accused have been chargesheeted by the CBI in this Haryana case, which includes six officials of IDFC First Bank, AU Small Finance Bank, three public servants of Haryana government, two companies and six private persons,” the spokesperson said. PTI ABS RT