New Delhi, May 13 -- The Enforcement Directorate (ED) has arrested two ex-employees of IDFC First Bank in connection with an ongoing money laundering investigation into the Rs 645 crore public fund embezzlement case.

ED's Chandigarh zonal office arrested Ribhav Rishi and Abhay Kumar, the two ex-employees of IDFC bank, on May 11 under the Prevention of Money Laundering Act (PMLA), 2002. After arresting both Ribhav and Abhay under Section 19 of PMLA, 2002, they were produced before a special PMLA court, which granted 10 days ED custody of both the accused till May 21.

ED said the investigation conducted so far revealed embezzlement of public funds amounting to Rs 645 crore from the bank accounts of the Haryana government, Chandigarh Union...