ED charges former SBI officer with laundering ₹7.96 crore in fraud

It matters to citizens as it details a specific financial crime involving bank record manipulation and the legal actions taken under the Prevention of Money Laundering Act.

Who it concerns: Priti Singh (former Field Officer, SBI Manpur Branch, Gaya), the Directorate of Enforcement (ED), the Special Court (PMLA) Patna, and the State Bank of India.

What the ED says it did

• ED filed a Prosecution Complaint before the Special Court (PMLA), Patna on 30/09/2026.
• The complaint seeks prosecution and conviction of Priti Singh under Sections 44 and 45 of the PMLA, 2002.
• The alleged offences include money laundering (Section 3) and are punishable under Section 4 of PMLA.
• ED investigation was initiated based on a CBI FIR and Chargesheet No. 15/2022 dated 30/12/2022.
• Priti Singh is alleged to have fraudulently sanctioned and operated 68 overdraft (OD) accounts in her own name and relatives' names.
• Alleged methods include manipulating records, creating fictitious accounts, removing liens over fixed deposits, and reusing securities for multiple OD facilities.
• The alleged wrongful loss to the bank is Rs. 7.96 Crore.
• Proceeds of Crime (PoC) amounting to Rs. 7,96,00,916/- were allegedly used for personal/family use and to create further Fixed Deposit Receipts (FDRs) for additional loans.
• The bank recovered funds from pledged FDRs, and the remaining amount was repaid by Priti Singh with assistance from family and relatives.
• ED states that the investigation in this matter has been completed.

Also in the document

• The ED notes that the accused enjoyed and utilized the Proceeds of Crime before repayment, despite the eventual recovery of funds by the bank and repayment by the accused.
• The case originated from a CBI investigation and chargesheet, not directly from an ED tip-off.