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6h ago

ED Arrests Suspended Bank of India Officer in Rs 16.10 Crore Fraud Case

The money-laundering probe stems from a CBI complaint alleging misuse of dormant customer accounts to route bank funds into personal SBI deposits.

Banker who stole ₹16 cr from 127 accounts held after 13-hr, 2-state chase
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Overview

  • Hitesh Kumar Singla was held on September 17 at Ahmedabad Junction under the PMLA after ED teams used intelligence and technical surveillance to intercept him on the Mahamana Express.
  • He was produced before the Special PMLA Court in Mumbai, which granted ED custody for seven days through September 23.
  • ED alleges that from May 2023 to July 2025 he fraudulently closed 127 savings, current, term deposit, PPF and SCSS accounts to siphon funds.
  • Investigators say the targeted profiles included senior citizens, minors, deceased customers and long‑inactive accounts to reduce detection risk.
  • The probe traces proceeds to Singla’s SBI savings accounts, originates from a CBI‑ACB FIR citing Section 409 IPC and the Prevention of Corruption Act, and includes a Section 17 search at an associate’s premises.