CBI Launches Probe Into Rs 550 Crore Haryana Embezzlement Scandal

The CBI has initiated an investigation into a Rs 550 crore embezzlement from Haryana government accounts at IDFC First Bank. The scam involves fraudulent banking operations and transactions siphoning state funds to shell entities, potentially with transnational implications. Arrests have been made, and a comprehensive probe is underway.

The Central Bureau of Investigation (CBI) has officially opened an inquiry into the alleged embezzlement of Rs 550 crore from the Haryana government's accounts maintained with IDFC First Bank, based in Chandigarh. This step follows the transfer of the probe to the central agency, as confirmed by official sources on Thursday.

This investigation, handed over by the Haryana State Vigilance and Anti-Corruption Bureau (SV & ACB), involves suspected fraudulent banking operations and manipulative transactions that allegedly redirected government funds to accounts of various shell entities. Among these are Swastik Desh Project, SRR Planning Gurus Pvt. Ltd., and others, resulting in substantial losses to public finances.

The case's complexity and potential interstate and international implications necessitated this high-level probe, including significant impending public finance impacts and breaches of institutional integrity. Arrests have included ex-bank employees and private individuals. The investigation will examine the involvement of diverse entities, including banks, hoteliers, and real estate projects.

(With inputs from agencies.)