The Central Bureau of Investigation (CBI) has arrested Ram Kumar Singh, a former IAS officer and Commissioner of Municipal Corporation in Panchkula, for his involvement in the misappropriation of government funds amounting to Rs 79.46 crore held by the IDFC First Bank branch in Chandigarh.
Investigations revealed that the account in question was opened against Haryana Finance Department guidelines, with details entered to mask fraudulent transactions planned for the future. Singh allegedly provided signed cheques to bank officials, purportedly for fixed deposits, which were never created, leading to the diversion of funds to shell entities controlled by the bank officials.
The fraudulent activities were reportedly carried out with the complicity of Singh and the senior accountant of the civic body, who is already in CBI custody. Singh’s residences in Chandigarh and Karnal were searched, yielding incriminating documents, as per the CBI.
The misappropriation scandal, part of a larger scam at the IDFC First Bank branch in Chandigarh, involved siphoning off Rs 504 crore from eight Haryana government departments through forged fixed deposits and debit notes. The CBI has filed charge sheets against 17 individuals, including bank officials, government employees, companies, and private individuals, in connection with the case.
The CBI has also taken up investigations into two other cases in Chandigarh related to the Chandigarh Smart City and CREST Chandigarh, resulting in charge sheets being filed against multiple individuals and entities involved in these cases.
