India, July 15 -- Bureau (SV&ACB) has alleged that nearly Rs.338.27 crore was siphoned off from the municipal corporation (MC), Panchkula, through a well-planned criminal conspiracy involving fake bank accounts, forged documents, illegal fund transfers, and the manipulation of fixed deposits (FDs), according to a chargesheet recently filed before a Panchkula court.

The chargesheet states that the accused allegedly transferred Rs.338.27 crore from the municipal corporation's legitimate bank accounts into illegal accounts and thereafter to accounts linked to the accused. Of this amount, Rs.234.12 crore was allegedly transferred back to valid MC accounts, while Rs.104.15 crore remained unaccounted for and is suspected to have been embezzled...