Chandigarh: In a major development in the ongoing banking fraud probe linked to Haryana government funds, a senior finance official from a power sector corporation has been dismissed over alleged involvement in the ₹590 crore IDFC First Bank and AU Small Finance Bank scam.
Allegations of Large-Scale Fraudulent Transactions
Investigators allege that the former Chief Financial Officer (CFO) facilitated fraudulent transactions worth around ₹50 crore through manipulated and unauthorized bank accounts linked to government departments. These transactions are believed to be part of a wider financial irregularity network under investigation.
Bribery Charge Also Under Scanner
Sources further indicate that the officer is also accused of accepting a bribe of approximately ₹50 lakh in connection with the alleged diversion and manipulation of funds. Authorities are examining financial trails and account operations linked to the accused.
Action Linked to Ongoing Multi-Bank Scam Probe
The dismissal comes amid a wider investigation into irregularities involving IDFC First Bank and AU Small Finance Bank, where hundreds of crores of government-linked funds are suspected to have been siphoned through fraudulent accounts and shell entities.
Officials said disciplinary action was taken based on findings of the vigilance and anti-corruption investigation, while further legal proceedings are expected as the probe continues.
Wider Crackdown Expected
The case is part of a larger crackdown on financial misconduct involving government deposits in private banks. Investigators are tracing fund flows, beneficiary accounts, and possible collusion between bank officials and public servants.