IDFC Bank Fraud Accused Caught In Hotel, Cops Allege Bid To Escape Custody

In the multi-crore IDFC Bank fraud case, Chandigarh Police have uncovered an alleged conspiracy to help a key accused, Vikram Wadhwa, escape custody.The accused was found staying in a hotel instead of returning to Model Jail, Burail, following a medical examination.The police have registered a case against Sub-Inspector Jagmehar Singh, Assistant Sub-Inspector Surender, Karan Wadhwa, Kunal Wadhwa and undertrial prisoner Vikram Wadhwa over the alleged escape bid.According to the police, SI Jagmehar Singh and ASI Surender, both posted at Police Lines, Sector 26, Chandigarh, had been asked to escort the undertrial prisoner to Government Multi-Specialty Hospital (GMSH) for a medical check-up.Police alleged that after the medical examination, instead of sending Wadhwa back to Model Jail per rules, the escorting officers took him to City Hotel, where he allegedly met his two sons.According to the police's First Information Report, there was a pre-planned conspiracy involving Vikram Wadhwa and his sons, Karan and Kunal, to make him escape from custody.Police alleged that the sons bribed the police officials to take Wadhwa to the hotel, from where he was allegedly planning to flee.Acting on the intelligence input, a police team headed by senior officer SPS Sondhi conducted a raid at the hotel.During the operation, police found Vikram Wadhwa, Karan Wadhwa, Kunal Wadhwa, SI Jagmehar Singh and ASI Surender inside the hotel.All five have been named in the FIR.Police are also examining the role of the hotel management, as the owner is reportedly related to Vikram Wadhwa. Investigators are scrutinising hotel records and CCTV footage to determine whether Wadhwa had stayed at the property on previous occasions and whether the management facilitated his stay.They said the accused has been sent to jail.Also read: IDFC FIRST Bank Detects Rs 590 Crore Fraud In Haryana Government AccountsWho is Vikram Wadhwa?Vikram Wadhwa, a Chandigarh-based real estate businessman, was arrested by the Directorate of Enforcement (ED) in May under the Prevention of Money Laundering Act (PMLA).According to the ED, the investigation has revealed alleged embezzlement of approximately Rs 645 crore from IDFC bank accounts of the Haryana government, the Chandigarh administration and two private schools in Chandigarh and Panchkula.The ED has alleged that Wadhwa is one of the main accused who, in connivance with Ribhav Rishi, Abhay Kumar, bank officials and government officials, siphoned off public funds.