A senior IPS officer posted as an inspector-general (IG) in the CRPF is under the scanner for allegedly misappropriating funds allocated for anti-terror operations in Jammu and Kashmir and diverting the money to stock market investments.
The officer is accused of misappropriating nearly ₹4 crore and funnelling it into stocks and mutual funds through a network of shell companies. Sources said the funds, intended to bolster the effectiveness of counter-terrorism operations, were allegedly diverted through a network of shell companies.
“The matter has reached the top brass of the CRPF and is being looked into,” an officer posted at the CRPF headquarters in Delhi said on Sunday.
The allegations pertainto the period between 2018 and 2019 when the accused officer was posted in Jammuand Kashmir.
Sources said officials were scrutinising financial records, share market transactions and the ownership structures of the shell companies.
The nature of the allegations has put serious question marks on the oversight mechanism within the CRPF, the country’s largest paramilitary force, and the need for better monitoring of funds allocated for security purposes.