Haryana's Rs 590-Crore Bank Fraud: Arrests and Investigations Unfold

In a significant crackdown, the Haryana State Vigilance and Anti-Corruption Bureau (SV&ACB) apprehended four individuals implicated in a massive financial fraud at IDFC First Bank. The arrested include two former bank employees, Ribhav Rishi and Abhay Kumar, who allegedly orchestrated the Rs 590-crore scam.

The fraud hinges on a private firm, Swastik Desh Project, owned by Swati Singla and Abhishek Singla, which is suspected to have received a substantial portion of the embezzled funds. Investigators are piecing together the intricate money trail and have retrieved Rs 556 crore of the stolen amount so far.

Chief Minister Nayab Singh Saini addressed the Assembly, asserting the government's commitment to hold all involved accountable. The opposition has called for a CBI probe, and the authorities have vowed to leave no stone unturned in their investigation.