Mumbai, February 11: The Enforcement Directorate (ED) in Mumbai has issued a Provisional Attachment Order (PAO) under the Prevention of Money Laundering Act (PMLA) on February 9, 2026. This order targets approximately ₹1.03 crore in assets belonging to Hitesh Kumar Singla, a suspended officer from the Bank of India, along with funds deposited in mule accounts.
The ED’s investigation is based on an FIR filed by the CBI and ACB Mumbai, which accuses Singla and others under various sections of the IPC, including Section 409, Section 316(5) of the BNS, and Section 13(2) read with Section 13(1)(a) of the PC Act, 1988. Singla, 32, worked at the Turner Road branch of the Bank of India in Bandra.
Between May 2023 and July 2025, Singla allegedly closed customer term deposits (TDS), Public Provident Fund (PPF) accounts, Senior Citizen Savings Scheme (SCSS) accounts, savings bank accounts, and current accounts without authorization. A total of 230 accounts were targeted, primarily affecting senior citizens, minors, deceased clients, and inactive accounts to conceal the fraud. The total amount siphoned off is reported to be around ₹16.80 crore.
Singla transferred these funds into his personal savings account, later investing them in stock market trading (futures and options), online gaming websites, and cryptocurrencies, as well as using them for personal expenses. Investigations revealed that nearly 90% of the funds were lost in trading, online gambling, and cryptocurrency investments, complicating the tracing process.
The ED arrested Singla on September 17, 2025, at Ahmedabad Junction railway station after a multi-state chase lasting over 13 hours. Following his arrest, the ED filed a prosecution complaint in the Special PMLA Court, Greater Bombay, which acknowledged the case on January 21, 2026. Singla is currently in judicial custody at Arthur Road Jail in Mumbai.
–
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment