PTI
Chandigarh
Haryana’s State Vigilance and Anti-Corruption Bureau has arrested four people, including the alleged masterminds behind the Rs 590-crore IDFC First Bank fraud, with a private firm owned by the wife of a former employee emerging at the centre of the financial irregularities.
Two of the arrested are former employees of the IDFC First Bank, while the other two are private individuals who ran a partnership firm that allegedly received a substantial portion of the siphoned funds, officials said. The arrests were made on Tuesday evening as part of the ongoing investigation into the fraud that has rocked the Haryana government’s financial dealings.
Speaking to the media in Panchkula, State Vigilance and Anti-Corruption Bureau (SV&ACB) Director General A S Chawla identified the arrested individuals as Ribhav Rishi, Abhay Kumar, Swati Singla, and Abhishek Singla.
Rishi, who served as head of the bank’s Sector 32 branch in Chandigarh until about six months ago, and Abhay Kumar, a relationship manager who resigned in August last year, have been described as “masterminds” of the fraud.
According to investigators, the two allegedly orchestrated the diversion of government funds. Swati Singla and her brother Abhishek Singla ran a firm named Swastik Desh Project. Swati holds a 75% stake in the company, while Abhishek owns the remaining 25%.
