The Enforcement Directorate (ED) has intensified its investigation into a cyber fraud case involving more than ₹5 crore at the Punjab National Bank (PNB) in Muzaffarpur. The agency is now examining 22 suspected fake or “ghost” bank accounts that were allegedly used to launder money obtained through the fraud.
22 Fake Bank Accounts Under Investigation
According to the investigation, the suspected bank accounts are located across five different states, besides West Bengal and Bengaluru. The ED is collecting details of all the account holders to trace the movement of the fraud money.
Recently, an ED team visited Muzaffarpur and collected important information from three different banks as part of the investigation.
ED Took Over the Investigation
The case was initially investigated by the local police. However, due to the large amount of money involved, the ED’s Patna unit took over the investigation.
The ED registered a case under the Prevention of Money Laundering Act (PMLA) in September 2025 and has since taken possession of the case records from the local police.
Several Victims Lost Large Amounts
The investigation includes several major fraud incidents, including the unauthorized withdrawal of ₹1.07 crore from the bank account of a retired female professor. Another ₹23 lakh was allegedly withdrawn from the account of BSNL employee Ramdev Ram, while ₹45 lakh was taken from the account of an English professor at Science College.
The ED has sought details of the financial transactions of the main accused, Zafar Iqbal and cashier Nitesh Kumar Singh, who are currently in jail. The agency is also investigating the financial activities of their associates.
