Mumbai, Sep 19 A suspended official of Bank of India was arrested by the ED for illegally closing 127 dormant Savings and Current Accounts, Term Deposits (TDs) and Senior Citizen Savings Scheme (SCSS) accounts, and shifting Rs 16.10 crore to his personal account over the past two years, an official said on Friday.
The Enforcement Directorate (ED), Mumbai, arrested Hitesh Kumar Singla, Staff Officer of Bank of India (under suspension), on September 17, from Ahmedabad Junction Railway Station under the provisions of the Prevention of Money Laundering Act, 2002, the official said in a statement.
The official said Singla was produced before the Special PMLA Court, Greater Bombay, which sent him to ED custody for seven days.
The ED initiated investigation into the matter based on an FIR registered by Central Bureau of Investigation, ACB, Mumbai, against Singla and others under Section 409 of IPC (criminal breach of trust), Section 316(5) of BNS, and Section 13(2) read with Section 13(1)(a) of the Prevention of Corruption Act, 1988.
The ED investigation revealed that during May 2023 and July 2025, Singla, with mala fide and 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 were credited into his personal savings accounts maintained with the State Bank of India, the ED said.
The accused targeted vulnerable customers such as senior citizens, minors, deceased customers, and inoperative/dormant accounts, in order to avoid detection, it said.
The diverted funds were layered and transferred in a piecemeal and concealed manner.
Since the detection of the fraud, Singla had been absconding and failed to report to the Bank of India, it said.
Acting on specific intelligence supported by technical surveillance, the ED successfully intercepted and arrested him at Ahmedabad Junction, despite his repeated attempts to evade detection by frequently changing seats and coaches while travelling on board the Mahamana Express from Ujjain to Veraval.
After his arrest, searches under Section 17 of PMLA were conducted at the premises of one of his associates, the ED said.
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