1 day ago
CBI Chargesheets Forest Officer, Wife in ₹75 Crore CREST Fraud
The CBI has accused a former government officer, his wife and a company of helping misuse public money.
The officer was the chief executive of CREST in Chandigarh.
Investigators say about ₹75.4 crore was taken from CREST accounts.
They say the money was moved through fake documents and dishonest transactions.
The company linked to the officer’s wife allegedly received ₹95 lakh.
The CBI says that money was used to buy property.
The officer is already in judicial custody while the case continues.
The investigation is also examining a much larger bank fraud involving government money.
The CBI chargesheeted forest officer and former CREST CEO Navneet Srivastava, his wife, and Vipam Consultancy in the case.
Investigators allege that ₹75.4 crore in CREST funds was misappropriated through a criminal conspiracy.
The charges include cheating, criminal breach of trust, forgery, evidence destruction, bribery and criminal misconduct.
The CBI said Vipam Consultancy received ₹95 lakh from the defrauded funds and used it to acquire immovable property.
The case is linked to a wider ₹504 crore fraud involving government funds at an IDFC First Bank branch in Chandigarh.
- Who
- The CBI has chargesheeted Navneet Srivastava, his wife, and Vipam Consultancy Pvt. Ltd.
- What
- They face allegations including conspiracy, cheating, forgery, criminal breach of trust, bribery and criminal misconduct over the alleged misappropriation of ₹75.4 crore.
- Where
- The case concerns CREST and IDFC First Bank accounts in Chandigarh, including the bank’s Sector-32 branch.
- When
- The CBI filed the chargesheet on Friday; the article does not specify the date.
- Why
- The CBI alleges that the accused conspired to misappropriate public funds and obtain illegal gratification.
Key facts
- Alleged CREST fraud
- ₹75.4 crore
- Amount received by Vipam Consultancy
- ₹95 lakh
- Related Haryana bank fraud
- About ₹504 crore
- Bank branch involved
- IDFC First Bank, Sector 32, Chandigarh
- Officer charged
- Navneet Srivastava, former CREST CEO and Indian Forest Service officer
- Current custody status
- Srivastava is in judicial custody
- Investigation status
- Further investigation continues to trace funds and identify additional accused
Sources
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