The Central Bureau of Investigation (CBI) has uncovered significant details in the Rs 593 crore IDFC First Bank scam, revealing that the accused used over Rs 200 crore of siphoned funds to purchase gold and invest in real estate. These findings were disclosed on Friday as a special CBI court extended the remand of six accused, including builder Vikram Wadhwa and jeweller Rajan Singh Katodia, until April 27.
Extended Custody for Key Accused
The six individuals were moved from Ambala and Chandigarh jails into CBI custody on April 21. Seeking the extension, the CBI argued that the accused were evasive, particularly regarding details of shell companies and their operators. The agency stated that Rajan Singh allegedly used shell companies with no link to the bullion trade to purchase gold, which was then handed over to individuals connected to Rishav Rishi, the main accused and former banker.
Real Estate Investments and Bank Employee Lapses
The CBI also referred to the purchase of immovable properties through proceeds of crime while seeking the custody of Wadhwa. Regarding four former bank employees—Seema Dhiman, Arun Sharma, Anuj Kaushal, and Priyanka—the CBI cited glaring and intentional lapses in handling heavy transactions from government accounts of the bank and other companies. The agency claimed to have detected 200 heavy transactions and records where bank accounts were opened and operated solely on verbal instructions.
Background of the Case
The Haryana State Vigilance and Anti-Corruption Bureau initially registered the case in February. It was later transferred to the CBI. Initially, 15 arrests were made, while the CBI arrested 12 more individuals. The investigation continues to unravel the complex web of financial fraud.
