Haryana's Rs 590-Crore Bank Fraud: Key Arrests Unravel a Financial Mystery

Haryana's State Vigilance and Anti-Corruption Bureau has arrested four individuals, including two former IDFC First Bank employees, in connection with a Rs 590-crore fraud. The scam involved significant fund transfers to a firm owned by two of the accomplices. A special investigation is underway.

Haryana's State Vigilance and Anti-Corruption Bureau has arrested four individuals in connection with a massive Rs 590-crore fraud involving IDFC First Bank, officials announced on Wednesday. The arrested include two former bank employees and two private business owners, who are siblings.

Ribhav Rishi and Abhay Kumar, former employees of IDFC First Bank, allegedly orchestrated the fraud in collaboration with Swati Singla and her brother Abhishek Singla, who part-owner a firm named Swastik Desh Project, according to ACB director-general A S Chawla.

The Special Investigation Team, led by IPS officer Ganga Ram Punia, continues its probe while political leaders call for a CBI inquiry, emphasizing the gravity of the situation. The Haryana government also announced that IDFC First Bank reimbursed the defrauded funds in full to affected government departments.

(With inputs from agencies.)