The investigating agencies probing the Rs 657-crore IDFC First Bank-AU Small Finance Bank scam have found that bank officials and government officers spent the embezzled government funds on call girls, parties, dancers, visits to Dubai, Thailand and Goa, luxury vehicles and properties in Chandigarh, SAS Nagar and Panchkula.Funds were siphoned off from the bank accounts of eight departments of the Haryana Government and two of the Chandigarh Administration. Amounts from the accounts of two private schools were also embezzled.The Tribune has learnt that Ribhav Rishi, the mastermind of the scam and former branch manager of IDFC First Bank in Sector 32, Chandigarh, used to organise lavish parties at Jade Manor, Zirakpur, for government servants and others involved in the scam.According to the ED, Jade Manor used to be rented out for Rs 1 lakh per day for the parties. Rishi admitted before the ED that arrangements for DJs, dancers, entertainment activities and call girls were made for such parties. An expenditure of up to Rs 20-25 lakh was made on each such event.Rishi also organised multiple foreign and domestic trips for his associates, bank officials, intermediaries, family members and other individuals linked with the scam.The destinations were Thailand, Dubai and Goa during 2025. The expenditure incurred on such trips included flight bookings, luxury hotel accommodations, parties, leisure activities and other hospitality arrangements. Payments of Rs 2.01 crore were made using embezzled funds on five occasions. The payments were made to “escorts” and other individuals associated with such trips.Siphoned off funds totalling Rs 4.92 crore were used for buying six luxury vehicles. A Mercedes E-20 for Rs 78 lakh and a Toyota Fortuner for Rs 40 lakh were purchased for Rishi through the embezzled funds.A Range Rover was purchased for Rs 2.64 crore for prime accused and real estate developer Vikram Wadhwa.A Toyota Fortuner was purchased for Rs 40 lakh for a superintendent of the Panchayat Department, Naresh Kumar, and a Toyota Innova Hycross in his wife’s name for Rs 35 lakh.A Toyota Innova Hycross was purchased for Rs 35 lakh for Abhay Kumar, who was a relationship manager in IDFC First Bank.On July 7, the ED attached immovable and movable properties worth Rs 200.84 crore connected with the scam. These included 21 immovable properties worth Rs 179.84 crore and 23 movable properties worth Rs 21 crore.While analysing 62 bank accounts, including those of government departments, the ED found that fake documentation, such as forged fixed deposit receipts, forged RTGS request letters and forged bank letters, was issued to various departments and unauthorised transactions were then undertaken.Rishi and his wife Divya Arora purchased an industrial plot in Chandigarh for Rs 4.90 crore, and a floor in Sector 17, Panchkula, for Rs 1 crore, as per the sale deed. Besides, he allegedly paid Rs 3.39 crore in cash, according to the ED. He also paid Rs 1.70 crore towards a membership contribution in a group housing society.Wadhwa, one of the main beneficiaries of the scam, received Rs 69.58 crore in his bank account and Rs 120 crore in cash, as per the ED. He purchased a house in Sector 33, Chandigarh, for Rs 24.5 crore; a house in Sector 21, Chandigarh, for Rs 10 crore; a plot in Amari Hills Farmhouse in SAS Nagar for Rs 2.25 crore; and a plot in a Cooperative House Building Society in New Chandigarh for Rs 4 crore. The ED claims that he invested Rs 22.84 crore more in cash towards these properties, as the actual price was much more. He further invested Rs 28.11 crore in three real estate firms.Another major beneficiary of the scam is Naresh Kumar, who allegedly received Rs 68 crore as proceeds of crime. He purchased four properties.