3 weeks ago
ED chargesheet in Kotak Mahindra Bank Panchkula MC fraud case
Some adults who worked at a bank and at a city office called the Panchkula Municipal Corporation are in big trouble.
The police think they stole more than 100 crore rupees that belonged to the city government.
Special detectives called the Enforcement Directorate investigated the case.
They said a former bank leader named Pushpinder Singh worked with a city worker named Vikas Kaushik.
They also worked with another bank worker named Dilip Raghav.
The group opened two fake bank accounts as if the accounts belonged to the city office.
They used fake papers and ignored all the real letters from the city.
Nine people are now accused of this money crime.
A court will decide what happens to them next.
The Enforcement Directorate filed a chargesheet on July 30 against nine accused before a Prevention of Money Laundering Act (PMLA) court.
Former Kotak Mahindra Bank deputy vice president Pushpinder Singh, bank employee Dilip Raghav, and Panchkula MC official Vikas Kaushik allegedly defrauded the state of over Rs 100 crore.
The accused allegedly opened two unauthorized bank accounts in the civic body's name using fake documents and authorisations.
Genuine communications and authorisation letters from Municipal Corporation Panchkula were disregarded, and parallel letters were created, the ED said.
The money laundering case stems from an FIR filed by the Haryana Anti-Corruption Bureau (ACB) alleging a deep-rooted and well-organised criminal conspiracy.
- Who
- Pushpinder Singh, former deputy vice president of Kotak Mahindra Bank; Dilip Raghav, another bank employee; and Vikas Kaushik, an official of Municipal Corporation Panchkula.
- What
- The ED filed a chargesheet accusing them of defrauding the state of over Rs 100 crore by embezzling government funds through two unauthorized bank accounts.
- Where
- Panchkula, Haryana, where the municipal corporation is located.
- When
- The chargesheet was filed on July 30.
- Why
- To embezzle funds belonging to the state government department through a deep-rooted and well-organised criminal conspiracy.
Key facts
- Agency
- Enforcement Directorate (ED)
- Accused charged
- Nine
- Amount allegedly defrauded
- Over Rs 100 crore
- Chargesheet filing date
- July 30
- Key accused
- Pushpinder Singh, Vikas Kaushik, Dilip Raghav
- Underlying FIR
- Filed by Haryana Anti-Corruption Bureau (ACB)
- Fraud method
- Two unauthorized accounts opened in MC Panchkula's name with fake documents
- Law invoked
- Prevention of Money Laundering Act (PMLA)
Quotes
Enforcement Directorate
Federal agency responsible for anti-money laundering enforcement
“All genuine communications, authorisation letters and instructions sent by municipal corporation Panchkula were disregarded, and a series of parallel authorisation letters were created by Singh and Kaushik, with the support of others, for the purpose of opening these two illegal accounts.”
m.rediff.com
Sources
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