Mumbai: The Enforcement Directorate (ED) on Wednesday arrested Hitesh Kumar Singla (32), a suspended staff officer of Bank of India, from Ahmedabad Junction Railway Station in connection with a Rs 16.10 crore fraud. He was taken into custody under the Prevention of Money Laundering Act (PMLA), 2002, and produced before the Special PMLA Court in Mumbai, which granted the ED seven days’ custody till September 23.
Singla, who had reportedly been absconding since the fraud came to light, was intercepted while travelling on the Mahamana Express (Train No. 19320) from Ujjain to Veraval. ED officials said the accused attempted to evade them by moving between coaches and changing seats.
“Acting on specific intelligence and technical surveillance, we finally intercepted him at Ahmedabad Junction. He tried to stay one step ahead by darting between coaches and switching seats, but our team was able to apprehend him,” an ED official said.
Following the arrest, ED conducted searches at the premises of one of Singla’s associates under Section 17 of the PMLA.
The ED investigation stems from an FIR filed by the CBI’s Anti-Corruption Bureau (ACB), Mumbai, in early August. The complaint, filed by Om Prakash, Deputy Zonal Manager, Mumbai North Zone, Bank of India, alleged criminal breach of trust and misconduct by Singla, who was posted at the Turner Road branch. The alleged offences, committed along with other unknown individuals, fall under Section 409 of the IPC, Section 316(5) of the Banking Regulation Act, 2023, and Sections 13(2) read with 13(1)(a) of the Prevention of Corruption Act, 1988 (as amended in 2018).
ED investigations revealed a meticulously planned scheme that spanned over two years. Between May 2023 and July 2025, Singla, with criminal intent, fraudulently closed Term Deposits (TDs), Public Provident Funds (PPFs), Senior Citizen Savings Scheme (SCSS) accounts, Savings Bank (SB) accounts, and Current Accounts (CAs) without authorisation. The proceeds from these closures were systematically diverted into his personal SBI savings accounts.
The probe further showed that Singla deliberately targeted 127 account holders, including vulnerable customers such as senior citizens, minors, deceased customers, and holders of dormant or inoperative accounts, to evade detection. The funds were transferred in small, layered transactions, concealing the trail and ensuring the fraud remained undetected for over two years.Through this modus operandi, he allegedly siphoned off Rs 16.10 crore, causing substantial financial loss, tarnishing the bank’s reputation, and undermining public trust by abusing his official position.
Since the fraud was detected, Singla had remained absconding, deliberately avoiding both the Bank of India and law enforcement authorities. He was ultimately apprehended at Ahmedabad Junction, despite repeated attempts to evade arrest, marking the culmination of months of surveillance and sleuthing by the ED.
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