CBI conducts searches in connection with IDFC First Bank-AU Finance Bank fraud case
New Delhi, June 7: The Central Bureau of Investigation (CBI) has carried out searches at six premises in connection with the ongoing investigation into “a large-scale misappropriation fraud” involving IDFC First Bank/AU Finance Bank.
The case pertains to alleged siphoning of the Government Funds in 8 departments of the Government of Haryana and 2 departments of the Union Territory of Chandigarh, i.e, Municipal Corporation Chandigarh and CREST Chandigarh.
The search operations were carried out at premises located in Chandigarh, Panchkula, and Delhi NCR, which include residential premises of senior public servants of Haryana Cadre and M/s Vipam Consultancy Pvt Ltd and its Director in connection with irregularities committed and with regard to receipt of proceeds of crime, the CBI said in a statement.
“During investigation, evidences have surfaced suggesting that the public servants had colluded with bank officials and had facilitated in opening of accounts, the transfer of funds and the subsequent diversion thereof,” it said.
The investigation stems from a case taken over by CBI from the Haryana State Vigilance and Anti-Corruption Bureau and two cases originally registered by the Economic Offences Wing police station in Chandigarh.
The cases relate to alleged criminal conspiracy, misappropriation of government funds and related offences committed in connivance with bank officials and public servants, the agency said.
The CBI has already filed its first chargesheet before a special court in Panchkula detailing the alleged role of public servants from the Haryana Power Generation Corporation Ltd and Haryana School Shiksha Pariyojna Parishad.
The chargesheet also outlined the alleged modus operandi used to siphon off government funds parked with the IDFC First Bank and AU Finance Bank, it said.
