CBI flags purchase of gold worth over Rs 200 crore from siphoned funds

The accused — Arun Sharma, Seema Dhiman, Anuj Kaushal, Priyanka, Rajan Singh Katodia, Vikram Wadhwa — were produced before the Court of Special CBI Judge.

Seeking further custody, the CBI told the court that the case pertains to a “large-scale, multi-layered fraud by way of fraudulent banking operations and fictitious transactions to divert government funds in shell entities in connivance with public servants”.

The six accused were earlier taken into custody and examined in detail. During questioning, the agency said they revealed their roles, including opening bank accounts of Haryana government departments in private banks “without following due process” and processing payments “in the absence of any cheques/debit notes and only on verbal communication with co-accused persons”.

The probe further indicated that debit notes were processed without confirmation from the concerned departments, while cheques and debit notes presented by co-accused persons were cleared, enabling diversion of funds to shell companies.

Flagging the money trail, the CBI informed the court about the “purchase of a huge amount of gold of more than Rs 200 crore from the siphoned funds from the government departments” and its subsequent handling through shell entities.

The agency also pointed to purchase of movable and immovable properties from the alleged proceeds of crime.

The CBI told the court that several crucial aspects are yet to be unearthed, including the role of government officials, use of fake or unstamped debit notes, and identification of those who authorised transactions. It also flagged that due diligence was not conducted by banks while processing transactions and verifying documents.

The CBI said the investigation is at a “very crucial stage” and custodial interrogation is necessary to trace the trail of misappropriated funds and identify other accomplices, including public servants.

Hearing CBI’s plea, the court allowed the remand, and directed the agency to produce the accused on April 27 at 3 pm.