IDFC First Bank Fraud Case: 11 Accused Arrested, 100 Accounts Frozen Eleven individuals have been arrested in connection with a fraud case involving IDFC First Bank, including six bank employees, four private individuals, and one government official. The investigation, led by the Haryana State Vigilance and Anti-Corruption Bureau, has uncovered a scheme where fake companies were used to divert government funds into multiple bank accounts. Authorities have frozen over 100 accounts suspected of being linked to the fraudulent activities. The probe revealed that unauthorised transfers of money from government departments were funneled into accounts operated by fictitious entities such as R S Traders, Cap Co Fintech Services, SRR Planning Gurus Pvt Ltd, and Swastik Desh Project. Requests to freeze these accounts have been fulfilled, and further actions are being taken to trace the flow of funds. A Special Investigation Team (SIT), supervised by senior IPS officer Ganga Ram Punia, has been formed to probe the case. The investigation has identified 12 bank accounts linked to eight government departments, with 10 of them held at IDFC First Bank’s Chandigarh branch and two at AU Small Finance Bank. The SIT has raided 16 locations, recovering documents related to property purchases and seizing over 25 electronic devices, including mobile phones and laptops, for cyber forensic analysis. Luxury vehicles, including three Toyota Fortuners, two Innovas, and one Mercedes, have also been seized, suspected to have been purchased using illicit proceeds. The accused allegedly manipulated banking records by creating fake debit memos or transferring funds without proper authorisation.#idfc_first_bank #rs_traders #cap_co_fintech_services #haryana_state_vigilance_and_anti_corruption_bureau #ganga_ram_punia
