Summary
The Haryana government has officially dismissed Rajesh Sangwan, a top finance officer, for his involvement in a massive banking scam. Sangwan served as the Controller of Finance and Accounts for the Haryana State Agricultural Marketing Board (HSAMB). He was fired after investigations linked him to a fraud involving Rs 10 crore of public money. This specific case is part of a much larger financial scandal totaling nearly Rs 590 crore that has affected several government departments in the state.
Main Impact
This dismissal marks a significant step in the state’s crackdown on internal corruption. By removing a high-ranking official, the government is sending a clear message that negligence and dishonesty will not be ignored. The scam has caused a major loss of public funds and has raised serious questions about how government money is managed in private banks. The impact reaches beyond just one department, as the investigation has already led to the removal of other senior officials in the education and panchayat sectors.
Key Details
What Happened
The fraud began with the opening of a new bank account for the HSAMB at IDFC First Bank in July 2025. Rajesh Sangwan was the person in charge of supervising these financial decisions. According to official reports, Sangwan recommended opening the account without comparing interest rates from other banks. This lack of care allowed the scam to take root. In January 2026, a fraudulent transaction of Rs 10 crore was made using a single cheque. This money was split and sent to two private companies that were likely set up just to hide the stolen funds. Even though a bank employee called Sangwan to confirm the transaction, he did not stop it or report it as suspicious.
Important Numbers and Facts
The total amount stolen across various departments is estimated at Rs 590 crore. In Sangwan’s specific department, the loss was Rs 10 crore. The fraudulent transfer happened on January 14, 2026, through two separate payments of Rs 9.75 crore and Rs 25 lakh. Sangwan was arrested on March 14, 2026, and his official firing order was signed on April 30, 2026. Investigators also found that Sangwan had been in regular contact with the main person behind the scam, a former bank manager named Ribhav Rishi.
Background and Context
This case matters because it involves the theft of money meant for public services and agricultural development. The scam worked by moving government funds into "shell entities." These are fake companies that do not have real business operations but are used to move and hide money. The investigation found that several officials were given "illegal gratification," which is a formal way of saying they took bribes. These bribes included large sums of cash, luxury cars, and even family vacation tickets. The state government decided to fire these officials immediately using special constitutional powers because they feared the accused might destroy evidence or influence witnesses if a standard, slow inquiry was held.
Public or Industry Reaction
The public reaction has been one of shock at the scale of the theft. People are concerned that so much money could be moved out of government accounts so easily. Within the government, there is a sense of urgency to fix the system. The Central Bureau of Investigation (CBI) has taken over the case to ensure a deep look into the banking network. Other departments are now being told to check their own accounts and ensure that no unauthorized people have access to their chequebooks or financial records.
What This Means Going Forward
The government is now looking for ways to recover the stolen money and prevent this from happening again. We can expect stricter rules for how government departments choose their banks. There will likely be more oversight on how cheques are handled and who is allowed to sign off on large transfers. The CBI investigation will continue to look for more people who might have helped the scammers. For the officials already fired, they face serious legal battles as the criminal cases against them move through the courts.
Final Take
The dismissal of Rajesh Sangwan is a necessary move to protect public trust. It shows that holding a high position does not protect an official from the consequences of their actions. As the investigation expands, more details about the network of corruption will likely come to light, forcing a complete rethink of how the state manages its wealth.
Frequently Asked Questions
Who is Rajesh Sangwan and why was he fired?
Rajesh Sangwan was the finance chief for the Haryana State Agricultural Marketing Board. He was fired for his role in a Rs 10-crore fraud where he allegedly helped move government money into private accounts and took bribes.
How much money was involved in the total scam?
The total scam involves approximately Rs 590 crore stolen from various Haryana government departments through complex banking fraud and fake companies.
What other officials have been punished?
Besides Sangwan, the government has fired Naresh Kumar from the Panchayats department and Randhir Singh from the education department for taking bribes like luxury cars and holiday trips in exchange for helping with the fraud.
