Investigation Reveals Complex Bank Collusion in Haryana’s Rs 504 Crore Embezzlement

Prosecutors say the scam was enabled by a well‑planned conspiracy between government officials and employees of two private banks. Funds earmarked for projects such as the Haryana State Agricultural Marketing Board and the Pollution Control Board were rerouted to branches where the implicated bank officers were stationed. New bank accounts were opened without proper authorization, allowing the diversion of public money to unrelated third parties. The CBI report states that after the money reached these accounts, it was repeatedly transferred among several banks, eventually being liquidated into cash for personal gain. The probe, prompted by a request from the state’s vigilance bureau, has already led to raids at more than fifty locations and the confiscation of gold jewellery valued at roughly Rs 20 crore.