Crime
ED Investigates Diversion of Government Funds in Multi-Crore Fraud Case
The Enforcement Directorate has arrested a former Haryana government superintendent in connection with an alleged ₹645-crore embezzlement case involving IDFC First Bank accounts linked to government departments and private educational institutions. Investigators believe the fraud diverted massive public funds through a sophisticated financial scheme.
The Enforcement Directorate (ED) has arrested Naresh Kumar, the then Superintendent in the office of the Director, Development and Panchayat, Haryana, in connection with its ongoing probe into the alleged ₹645-crore IDFC First Bank fraud case.
According to the agency, Kumar was taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, after investigators uncovered evidence pointing to the large-scale misappropriation of public funds.
The ED’s investigation has revealed that approximately ₹645 crore was allegedly embezzled from bank accounts maintained with IDFC First Bank. These accounts reportedly belonged to the Haryana Government, the Chandigarh Administration, and two private schools, raising serious concerns over financial oversight and internal control mechanisms.
Officials suspect that the accused played a significant role in facilitating or enabling the diversion of funds. The agency is examining the flow of money, identifying beneficiaries, and determining whether additional individuals or entities were involved in the alleged laundering of proceeds generated through the fraud.
Following his arrest on Wednesday, Naresh Kumar was produced before a designated PMLA court, which remanded him to four days of ED custody until Sunday to enable further interrogation and investigation.
The case is being treated as one of the major financial fraud investigations involving public money in recent times. Investigators are expected to scrutinise official records, banking transactions, and digital evidence to establish the complete modus operandi behind the alleged scam.
The ED has stated that the investigation remains ongoing and that further action may follow as new evidence emerges. The probe is also aimed at tracing the proceeds of crime and recovering assets linked to the alleged embezzlement.
