ED Raids Across Tricity in ₹645-Cr IDFC Bank Fraud Case
The agency says the alleged proceeds were routed through jewellers and layered as business payments, while Rs 211 crore in assets were attached or frozen.
- On Tuesday, the Enforcement Directorate searched 14 locations across Chandigarh, Mohali, and Panchkula, investigating an alleged Rs 645 crore fraud involving Haryana government funds and accounts held at IDFC First Bank.
- The investigation began following a February 2026 Haryana Police FIR that highlighted discrepancies in government account balances maintained by the Haryana Development and Panchayats Department with IDFC First Bank and Small Finance Bank.
- According to the Enforcement Directorate, Gaurav Kansal allegedly acted as an intermediary, routing diverted funds through jewellery firms including Malik Jewellers, KLG Jewels, Gold Traders, Sham Jewellers, and Sundar Jewellers to conceal the source.
- Assets totaling Rs 211 crore have been frozen by the agency, while the CBI has filed a third chargesheet before a special court in Panchkula naming six IAS officers as accused.
- Before the special PMLA court in Panchkula, a prosecution complaint against 14 accused has been filed as authorities continue examining documents and material recovered during the recent searches.
13 Articles
13 Articles
Four arrested, 6 IAS officers found involved in ED raids across Haryana in Rs 645 crore IDFC First Bank fraud
The ED has so far arrested four accused and attached, seized or frozen assets worth around Rs 211 crore. It has also filed a prosecution complaint against 14 accused before a special PMLA court in Panchkula.
Rs 645 crore Haryana funds scam: ED searches 14 premises, targets jewellers in money laundering probe
The Enforcement Directorate carried out searches at 14 locations in Chandigarh, Mohali, and Panchkula. This investigation relates to the alleged embezzlement of Rs 645 crore of public funds by various entities. Evidence was recovered during these searches, indicating the routing and layering of proceeds of crime. The investigation has linked these activities to certain jewellers and IAS officers involved in the fraud.
ED Raids 14 Places in Chandigarh, Mohali and Panchkula in Rs 645 Crore Alleged Embezzlement of Public Funds
Get latest articles and stories on India at LatestLY. The Enforcement Directorate (ED) on Tuesday conducted searches at 14 premises across Chandigarh, Mohali and Panchkula in connection with its money laundering investigation into the alleged embezzlement of Rs 645 crore of public funds belonging to the Haryana government, Chandigarh Municipal Corporation and other government accounts. India News | ED Raids 14 Places in Chandigarh, Mohali and Pa…
According to the ED report, the role of jewellers in laundering the proceeds of crime allegedly siphoned off from the bank accounts of various departments and the Chandigarh UT administration is being investigated.
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