Haryana:The Enforcement Directorate has suffered a major setback in the much talked about IDFC First Bank and AU Small Finance Bank scam of Rs 645 crore which defrauded the government exchequer in Haryana and Chandigarh. The main conspirator of the case and former branch manager of IDFC Bank, Ribhav Rishi, was produced in the special PMLA court of Panchkula on Thursday after his initial custody of 10 days was over.
Request for 4 days remand
The investigating agency had requested the court for additional remand of 4 days to increase the scope of investigation and solve the mystery of financial transactions of money. However, after hearing the arguments of both the parties, the special court granted custody to ED for only 1 day.
Misappropriation of crores from government accounts
The investigation of the Enforcement Directorate has revealed that the main accused Ribhav Rishi was posted as a manager in the branch of IDFC First Bank located in Sector-32, Chandigarh. Misusing this position, he embezzled crores of rupees of public’s hard-earned money from the official accounts of various departments of Haryana Government and Chandigarh Administration.
use of false identity cards
Ribhav Rishi cleverly misused the identity cards of his personal assistants, drivers, domestic staff and relatives. After this, the money received for government fixed deposits was transferred directly to the accounts of these fake firms instead of being deposited in the bank.
Fake purchase of gold and game of money trail
ED has made very shocking claims before the court. This money siphoned off from government accounts was later sent to the accounts of various jewelers and real estate operators. In collaboration with goldsmiths, fake bills were prepared to show that gold had been purchased with this amount.
Many important clues were found
In return, cash amounting to crores of rupees was withdrawn which was delivered to different white-collared people through a network spread across Chandigarh, Panchkula and Mohali. Investigation has found that out of this black money, about Rs 34.22 crore has been directly received by Ribhav Rishi and his family members. The investigating officers told the court that many important clues were found during the 10-day interrogation.
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