Gurugram : Over ₹2.60 crore was withdrawn from a frozen Axis Bank account, allegedly in connivance with the bank manager, despite orders by the Enforcement Directorate (ED) to freeze the account. The police have filed a fraud case against three individuals, and investigations are underway. The accused, including the manager, are yet to be arrested.
The case dates back to January 2022, when multiple FIRs were filed against former NSG Deputy Commandant Praveen Yadav and his family members for their alleged involvement in fraudulent financial activities. The ED later launched a money laundering probe and froze various assets linked to the accused, including the disputed account at Axis Bank, Sector 83, Gurugram.
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Background: Fraud Allegations Against Ex-NSG Officer and Family
In 2022, five FIRs were registered against former NSG officer Praveen Yadav, along with individuals including Dinesh Mohan Sorki, Kamal Singh, Mamta Yadav, Rituraj Yadav, Naveen Khatodia, and Koshiya Enterprises Pvt. Ltd., among others. They were charged under multiple sections involving cheating, forgery, and criminal conspiracy.
Investigations revealed that Praveen Yadav had created a fake bank account in the name of the Central Warehouse in Manesar using forged documents. Funds were allegedly solicited from multiple complainants and then diverted to trading accounts, real estate, and luxury car purchases.
The Gurugram Zonal Office of the ED, which took over the investigation under the Prevention of Money Laundering Act (PMLA), had frozen several movable and immovable properties belonging to the accused. The Axis Bank account in question was officially frozen by ED on June 14, 2023.
₹2.60 Crore Withdrawal Despite ED Freeze Order
Despite the freeze order, ₹2.60 crore was illicitly withdrawn from the Axis Bank account. Preliminary investigations point to internal collusion, with the bank manager suspected of facilitating the illegal transaction.
Police have registered an FIR against Nisha Yadav, Kiran Pal Yadav, and Deepak Kumar, alleging they orchestrated the fund withdrawal by working closely with bank officials. The case has raised serious concerns over compliance gaps in financial institutions and how frozen accounts are monitored and safeguarded.
Authorities suspect this was not an isolated act and are now probing the possible involvement of more insiders who may have helped bypass regulatory protocols.
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ED Tracing Money Trail: Land and Luxury Cars Purchased
According to ED sources, the fraudulently acquired funds were used to purchase high-end vehicles and land properties. Individuals like Mamta Yadav, Rituraj Yadav, Naveen Khatodia, and Dinesh Kumar allegedly played key roles in the diversion and laundering of funds.
The ED’s ongoing probe seeks to trace the exact flow of funds, including bank transactions, property acquisitions, and third-party involvement. The agency has also initiated steps to attach assets believed to be bought with illicit money.
Legal proceedings are expected to escalate, and arrests may follow as authorities deepen the investigation. The current episode, involving withdrawal from a frozen account, underscores the urgency of strengthening inter-agency coordination and financial institution accountability.