CBI arrests top AAI official for embezzling Rs 232 cr

NEW DELHI: In a significant case of financial fraud, the Central Bureau of Investigation (CBI) has arrested Rahul Vijay, a top finance manager in the Airports Authority of India (AAI), for allegedly embezzling public money worth Rs 232 crore by taking advantage of his position and manipulating accounts.

Vijay, who was earlier head of the Finance and Accounts department in Dehradun Airport from 2019 to 2023, is now posted at Jaipur Airport as head of the Finance and Accounts department. He allegedly diverted AAI money into his personal accounts by creating fake records, overvaluing assets, and making false transactions, officials said.

The fraud came to light when Chandrakanth P, one of the senior finance managers at AAI, detected inconsistencies while going through previous capital asset records between 2019 and 2023. Based on this revelation, AAI initiated an internal investigation, setting up a dedicated committee to investigate the inconsistencies.

The committee’s report demonstrated a network of dishonesty. Vijay purportedly used his position as an authorised signatory for AAI to make unauthorised transfers from the company’s bank accounts. Investigations established that he manipulated asset figures by creating and reproducing entries—sometimes merely adding on extra zeros to base values—to inflate asset values. The false bookkeeping allowed him to sign approvals for huge fund transfers to his own accounts.

CBI sources said Vijay created multiple user IDs linked to AAI’s official account with the State Bank of India, helping him carry out transactions unnoticed. Initially transferring small sums to test the system, he later funnelled larger amounts over several months, evading detection through methodical deception.