Mumbai News: CBI Gets Custody Of Ex-Bank Of India Officer Until Nov 1 In ₹16 Crore Fraud Involving Dormant, Deceased And Senior Citizen Accounts

Mumbai: The Central Bureau of Investigation (CBI) on Tuesday obtained the custody of former Bank of India (BoI) officer Hitesh Kumar Singla till November 1 for interrogation in the Rs 16 crore misappropriation case. He is accused of siphoning funds from 127 accounts, including dormant ones and those belonging to senior citizens, minors and deceased customers. The entire amount is yet to be recovered.

Arrest Followed Earlier ED Action For Money Laundering

Last month, Singla was arrested by the Enforcement Directorate for money laundering. The CBI later obtained his production warrant and formally took his custody in the case registered by it for cheating and criminal breach of trust.

Funds Diverted To Stocks And Cryptocurrency: CBI

Asserting that the accusation is serious, the agency contended that Singla misappropriated customers' deposits and transferred the money to the bank's official account before diverting it to his personal account. Investigation revealed a complex financial trail involving diversions to stock market investments and cryptocurrency dealings, the CBI added.

Also Watch:

Court Grants Custody Till November 1

The plea was opposed by Singla's lawyer from legal aid. The court, however, said, “Considering the submissions, case diary and FIR, the accusation is well-founded.Looking at the gravity and complexity of the offense, I find the request for police custody remand necessary for a deep investigation,” said the judge.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/