Mumbai: The Enforcement Directorate (ED) has provisionally attached assets worth ₹1.03 crore belonging to suspended Bank of India (BOI) officer Hitesh Singla, accused of siphoning off ₹16.80 crore from 230 customer accounts over two years.
The attachment was carried out on Monday under the Prevention of Money Laundering Act (PMLA). The seized assets include properties and bank balances parked in mule accounts allegedly used to route and layer the proceeds of crime. The attached assets included a plot of land worth ₹11 lakh, and bank balances in mule accounts linked to certain betting platforms. The agency scoured around 150 mule accounts in order to locate the accused’s funds.
According to the ED, Singla fraudulently closed term deposits, Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), savings and current accounts without authorisation between May 2023 and July 2025. The funds were first credited to two internal office accounts at BOI’s Turner Road branch in Bandra and later transferred to his personal accounts in another public sector bank.
The money was allegedly diverted into stock market investments, real-money gaming platforms, cryptocurrency and personal expenses.
The probe stems from a CBI case registered on August 6, 2025, following a complaint by BOI’s Mumbai North Zone accusing Singla of criminal misappropriation and misconduct. The fraud came to light after the legal heir of a deceased customer approached the bank on August 1, 2025, to enquire about two accounts, which were found to have been closed and the funds transferred to Singla’s account.
Investigators found that the accused specifically targeted vulnerable accounts, including those belonging to senior citizens, minors, deceased customers and dormant account holders, allegedly to avoid early detection.
Singla was arrested by the ED at Ahmedabad Junction railway station on September 17, 2025, after he allegedly went on the run. The agency subsequently filed a prosecution complaint before a designated PMLA court in Mumbai, which took cognisance of the charges on January 21.
He is currently in judicial custody and lodged at Arthur Road Jail. Further investigation is underway.