The Goa unit of Central Bureau of Investigation, Anti-Corruption Branch has registered an FIR against four bank officials, including two former branch managers, and two private individuals for allegedly siphoning off funds by prematurely closing 47 term deposits without depositors' consent.

The FIR was lodged following source information regarding fraudulent activities spanning the 2023–2024 financial year at Canara Bank’s Agacaim branch. The CBI has named six individuals alongside some unknown persons in the case. The named accused are: Hind Deep Walia, then-Officer at Canara Bank; Akhtar Momin, Single Window Operator. N. Girish Kumar, then-Branch Manager, Swapnil Ahire, then-Branch Manager, Sandhya Tiwari, a private individual residing in Porvorim, and Rajesh Kumar Mallick, a private individual from Balasore, Odisha

According to the FIR, the accused public servants abused their official positions and entered into a criminal conspiracy with Tiwari and Mallick to misappropriate 47 term deposits belonging to 11 depositors. To prevent detection and facilitate the illicit closures, the accused bank officials altered depositors' registered mobile numbers, addresses, and KYC details.

Primary investigation has revealed that Akhtar Momin initiated the unauthorized closure of 42 fixed/term deposits totaling Rs 2,33,86,545.52 between April 17, 2023, and February 29, 2024. All 42 closures were subsequently approved by Hind Deep Walia. N. Girish Kumar initiated the unauthorized closure of a term deposit on May 16, 2023, which was also approved by Walia. Swapnil Ahire initiated the premature closure of four term deposits (totaling Rs 8,99,321.06) on August 30 and September 1, 2023, which Walia approved.

The proceeds generated from the fraudulent closures were routed into multiple accounts between March 1, 2023, and February 29, 2024 by which Hind Deep Walia: Received Rs 59,91,144.13 in a Canara Bank account, along with Rs 1,85,52,400 and Rs 37,69,900 across two separate Axis Bank accounts. Whereas Sandhya Tiwari received Rs 37,50,000 into a Federal Bank account and Rajesh Kumar Mallick received Rs 13,50,000 into an IndusInd Bank account.

The competent authority at Canara Bank has accorded prior sanction under the Prevention of Corruption Act to investigate the officials, and all the accused are booked for alleged Criminal conspiracy, criminal breach of trust by a public servant/banker and cheating, alongside the Prevention of Corruption Act.