1 hr ago
ED conducts fresh searches in IDFC Bank embezzlement probe
The Enforcement Directorate is investigating an alleged public-money scam.
The case involves about Rs 645 crore belonging to government departments and other public accounts.
Investigators say money was moved through several jewellers and bank accounts.
They allege the transactions were made to look like normal business payments.
Searches were conducted at 14 places in Chandigarh, Mohali and Panchkula.
The investigation also involves government officials and a person accused of acting as a middleman.
The ED says it has already arrested four people and taken control of assets worth about Rs 211 crore.
The allegations will be considered through the ongoing legal proceedings.
The ED searched 14 premises across Chandigarh, Mohali and Panchkula.
The investigation concerns alleged embezzlement of Rs 645 crore in public funds.
Authorities allege jewellers routed and disguised the money as business transactions.
The CBI has filed a third chargesheet naming six Haryana-cadre IAS officers and others.
The ED has arrested four people and attached, seized or frozen assets worth about Rs 211 crore.
- Who
- The Directorate of Enforcement, the Central Bureau of Investigation, jewellers, a suspected middleman, and government officials are involved in the investigation.
- What
- The ED conducted searches in an alleged Rs 645-crore public-funds embezzlement and money-laundering case.
- Where
- Fourteen premises across Chandigarh, Mohali and Panchkula were searched.
- When
- The Haryana Police FIR was registered in February; the articles do not specify the date of the latest searches.
- Why
- The searches sought evidence about the alleged routing, layering, concealment and projection of embezzled funds as legitimate business transactions.
Key facts
- Agency conducting searches
- Directorate of Enforcement, Chandigarh Zonal Office II
- Search locations
- Chandigarh, Mohali and Panchkula
- Premises searched
- 14
- Alleged amount involved
- Rs 645 crore in public funds
- Assets attached, seized or frozen
- Approximately Rs 211 crore
- Arrests by ED
- Four accused arrested
- Chargesheet
- The CBI filed a third chargesheet naming six Haryana-cadre IAS officers and other government servants
Sources
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