Chandigarh: Three accused in CREST fraud sent to judicial custody

The probe stems from a March 10 complaint filed by the CREST chief executive officer regarding financial irregularities in the society’s bank accounts, at IDFC First Bank, Sector 32.

The three accused in the CREST fraud , Swati Singla of Kharar, Abhishek Singla of Sector 63 and Ankur of Nayagaon who were also involved in shell companies fraud were produced before court on Wednesday. They were arrested after permission from the court and their production warrants were obtained.

FIR was registered at the Economic Offences Police Station (EOPS), Sector 17, invoking multiple sections of the Bharatiya Nyaya Sanhita, (HT File)

According to the police, the amounts allegedly siphoned off from various government departments of Haryana and Chandigarh through IDFC First Bank, Sector 32 into the bank accounts of various companies, including CAPCO Fintech Services, RS Traders, Swastik Desh Projects and SRR Planning Gurus require thorough verification.

The police said, the accused Swati and Abhishek were partners of the firm, Swastik Desh Project and Ankur was the director of SRR Gurus Private Limited. Amounts running into crores of rupees was deposited into their accounts from various government department

Subsequently, the said amount was transferred to other accused persons, their personal accounts, and the accounts of their respective firms. Police alleged that the accused dishonestly cheated and caused wrongful loss to the departments for their personal gain.

The probe stems from a March 10 complaint filed by the CREST chief executive officer regarding financial irregularities in the society’s bank accounts, at IDFC First Bank, Sector 32. Subsequently, an FIR was registered at the Economic Offences Police Station (EOPS), Sector 17, invoking multiple sections of the Bharatiya Nyaya Sanhita, including cheating, forgery and criminal conspiracy. The alleged fraud amounts to approximately ₹83.04 crore.