Hitesh Kumar Singla was produced before the Special Court, PMLA, Greater Bombay. The Court granted ED custody of the accused for 07 days
FinTech BizNews Service
Mumbai, September 19, 2025: Directorate of Enforcement (ED), Mumbai, has arrested Hitesh Kumar Singla, Staff Officer of Bank of India (under suspension), on 17.09.2025 from Ahmedabad Junction Railway Station under the provisions of the Prevention of Money Laundering Act, 2002. He was produced before the Special Court, PMLA, Greater Bombay, the Court was pleased to grant ED custody of the accused for 07 days, as per a press release issued by the ED today.
ED initiated investigation on the basis of an FIR registered by CBI, ACB Mumbai against Hitesh Kumar Singla and others under Section 409 of IPC, Section 316(5) of BNS, and Section 13(2) read with Section 13(1)(a) of the PC Act, 1988. ED investigation revealed that during the period May 2023 to 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 authorization. The proceeds were credited into his personal savings accounts maintained with SBI.
ED investigation further revealed that the accused targeted as many as 127 account holders, particularly vulnerable customers such as senior citizens, minors, deceased customers, and inoperative/dormant accounts, in order to avoid detection. The diverted funds were layered and transferred in a piecemeal and concealed manner. By this modus operandi, Singla defrauded the Bank of India and its customers to the tune of Rs16.10 Crore, thereby causing loss to the bank, damaging its reputation, and eroding public trust by misusing his official position.
Since detection of the fraud, Hitesh Kumar Singla had been absconding and failed to report to the Bank of India. Acting on specific intelligence supported by technical surveillance, ED successfully intercepted and arrested him at Ahmedabad Junction, despite his repeated attempts to evade detection by frequently changing seats and coaches while travelling onboard Train No. 19320 Mahamana Express from Ujjain to Veraval. Pursuant to the arrest, searches under Section 17 of PMLA were conducted at the premises of one of his associates. Further investigation is under progress.
