ED attaches Rs 1.7 crore in PNB scam assets

The Enforcement Directorate (ED) has attached six properties worth Rs 1.76 crore as part of its investigation into the Punjab National Bank (PNB) scam. This action follows a probe related to the Vikas Bhawan branch in Gorakhpur. The properties include agricultural land, a house, and a flat located in Kanpur, Fatehpur, Gorakhpur, and Varanasi. The ED’s investigation began after the Central Bureau of Investigation (CBI) filed a report against the branch manager, Shyama Nand Chaubey, and others. They are being investigated for misappropriating Rs 4.4 crore. The accused opened fake bank accounts and illegally transferred money to benefit themselves. Chaubey allegedly issued loans without proper approval and received kickbacks for these loans as bribes. He also transferred money from customers' accounts without their knowledge. The investigation is ongoing, as authorities seek to uncover more details about the scam.