IDFC First Bank case: ED raids jewellers in Haryana, Punjab
The Enforcement Directorate on Tuesday conducted searches against some jewellery shops in Haryana and Punjab as part of its money laundering investigation into the alleged embezzlement of Rs 645 crore from bank accounts linked to the Haryana government and maintained with the IDFC First Bank, officials said.
They said about 14 premises in Chandigarh, Mohali (Punjab) and Panchkula (Haryana) were covered during the raids.
The central agency said the “embezzled” public funds were routed and layered through the bank accounts of various jewellers and projected as business transactions.
These transactions were allegedly carried out in connivance with the accused persons to conceal and project the proceeds of crime as legitimate funds, ED officials said.
The proceeds of crime are also alleged to have been laundered by jewellers, which allegedly reached accused IAS officers and other government servants involved in the IDFC First Bank “fraud”, they said.
The CBI recently filed its third charge sheet in this case before a Panchkula court and named six Haryana-cadre IAS officers and other government servants in connection with the bank fraud case.
The ED had arrested four persons, filed a charge sheet against 14 entities and attached assets worth Rs 211 crore as part of this investigation.
The money laundering case stems from an FIR registered by the Haryana State Vigilance and Anti-Corruption Bureau.
