Archive · 2 Jun 2025
ED Probes ₹53 Crore FD Scam Tied to Online Gaming
Imagine some people took money from different schools and colleges without permission.
They took the money from accounts called fixed deposits.
The money, about 53 crore rupees, was then used for playing games online.
The police are now looking into what happened and have found some evidence in Bengaluru.
They think someone working at the bank might have helped the people who took the money.
They're trying to find out how it happened and if there are more people involved.
The Enforcement Directorate (ED) is probing a ₹53 crore fixed deposit (FD) fraud.
The fraud involved the diversion of funds to online gaming platforms.
46 institutions in Delhi, including educational bodies, were affected.
The ED suspects premature breaking of fixed deposits and collusion with bank employees.
Search operations in Bengaluru led to the seizure of cash, debit cards, and digital devices.
- Who
- The Enforcement Directorate (ED) is investigating the case.
- What
- ED probe into a ₹53 crore FD scam linked to online gaming.
- When
- The investigation started on May 30; the fraud involved FDs.
- Where
- Delhi, Bengaluru
- Why
- To investigate the diversion of funds into online gaming and the fraudulent breaking of FDs.
- Amount of Fraud
- ₹53 crore
- Affected Institutions
- 46
- Funds Destination
- Online Gaming
- Locations
- Delhi and Bengaluru
- Bank Involved
- Punjab & Sind Bank
- Suspect
- Bedanshu Shekhar Mishra
