ED attaches ₹1.76 crore properties in Punjab Bank case

The Enforcement Directorate (ED) has seized properties worth ₹1.76 crore linked to the Punjab National Bank (PNB) scam. This action took place in Uttar Pradesh and is part of an ongoing investigation. The attached properties include agricultural land, a house, and a flat. These are located in various cities such as Kanpur, Fatehpur, Gorakhpur, and Varanasi. The ED's investigation follows a case initiated by the CBI in Lucknow. The investigation focuses on Shyama Nand Chaubey, a former branch manager, and others who allegedly misused bank funds. They are accused of misappropriating ₹4.4 crore. According to the ED, Chaubey and accomplices engaged in illegal banking activities. They opened fake accounts and transferred bank money unlawfully. The investigation revealed that Chaubey issued loans without proper approval and often took kickbacks for these loans. The ED is continuing its investigation to uncover more details about the crime and the funds involved. Further actions are expected as the case unfolds.