Bank Official Misuse: ED Seizes ₹2.56 Crore Assets in Punjab & Sindh Bank FD Bust for Online Gaming

The Enforcement Directorate (ED) has taken action against a former official of Punjab and Sindh Bank who allegedly misappropriated fixed deposits (FDs) amounting to over ₹52 crore from customers for online gaming. The Central Investigation Agency has initiated the process of seizing the assets of the former bank official, Bedanshu Shekhar Mishra, under the provisions of the Prevention of Money Laundering Act (PMLA), following a case registered in connection with the fraud.

According to the ED, assets including immovable property and fixed deposits totaling Rs 2.56 crore belonging to the accused bank employee have been seized. The fraud case dates back to the fiscal year 2021-22 and is based on an FIR filed by the Central Bureau of Investigation (CBI).

Bedanshu Shekhar Mishra, while employed at the Khalsa College branch on the North Campus of Delhi University, allegedly used his system ID and other staff IDs to manipulate fixed deposits (FDs), resulting in a misappropriation of Rs 52,99,53,698. The bank discovered these irregularities and subsequently suspended Bedanshu in November 2022. The investigation agency asserts that Mishra’s actions defrauded both the bank and the account holders involved.

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