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IAS Officer Accused in Bank Fraud Case Totalling Rs 60 Crore

By Drooid · Oct 6, 2026, 5:20 AM UTC · How we work

Summary

Story summary

IAS officer Pankaj Agarwal is accused of taking illegal gratification to open fraudulent IDFC First Bank accounts.
Fraud siphoned over Rs 60 crore, causing a Rs 50.54 crore loss.
Ribhav Rishi allegedly paid Rs 15-20 lakh for nine Jade Manor parties (25 July 2025-16 Jan 2026) using fraud proceeds.
W-2 testified she received Rs 75,000 cash for sexual favours after a Wyndham stay.
Sanction under Section 19 of the Prevention of Corruption Act remains pending.

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Story summary

IAS officer Pankaj Agarwal is accused of taking illegal gratification to open fraudulent IDFC First Bank accounts.
Fraud siphoned over Rs 60 crore, causing a Rs 50.54 crore loss.
Ribhav Rishi allegedly paid Rs 15-20 lakh for nine Jade Manor parties (25 July 2025-16 Jan 2026) using fraud proceeds.
W-2 testified she received Rs 75,000 cash for sexual favours after a Wyndham stay.
Sanction under Section 19 of the Prevention of Corruption Act remains pending.