New Delhi, March 13 -- The Enforcement Directorate (ED), Chandigarh Zonal Office, on Friday conducted search operations at 19 premises across Chandigarh, Mohali, Panchkula, Gurgaon and Bangalore in connection with the IDFC First Bank scam involving the embezzlement of public funds amounting to Rs 597 crore belonging to the Haryana Government, the Municipal Corporation Chandigarh and other government accounts.
The funds were meant to be kept as fixed deposits with the bank; however, the accused persons allegedly diverted the government funds without authorisation.
The searches covered former bank employees Ribhav Rishi and Abhay Kumar, their family members, and beneficiary shell entities, including Swastik Desh Projects, Capco Fintech Serv...