Srinagar, August 1: The Jammu and Kashmir Crime Branch’s Economic Offences Wing (EOW) announced on Saturday that it has filed a chargesheet in a bank fraud case involving ₹3.11 crore at the Central Cooperative Bank.
According to a statement from the Crime Branch, the EOW Kashmir has charged individuals under sections 420, 468, 471, and 120-B of the RPC for crimes related to fraud, forgery, use of false documents, and criminal conspiracy.
The investigation was initiated based on a letter from the then Registrar of Cooperatives in Jammu and Kashmir, which alleged significant financial irregularities and embezzlement across various branches of the Central Cooperative Bank located in Baramulla.
The inquiry revealed that the former branch manager of the Langate branch colluded with other accused to fraudulently approve fake loans and allowed overdrafts far exceeding his authority, resulting in an embezzlement of approximately ₹3.11 crore from the bank.
It was also discovered that the accused had conspired to execute fraudulent transactions, causing substantial losses to the bank. The charges have been substantiated, and the chargesheet has been submitted to the competent court.
The accused named in the chargesheet include Ghulam Mohammad Baig (retired branch manager), son of Ghulam Mohi-ud-Din Baig, a resident of Kenyal Tarathpora, Handwara; and Abdul Hamid Gojri (cashier-cum-clerk), son of Abdul Razzaq Gojri, a resident of Gund Karim Khan, Rafiabad.
The Crime Branch has advised the public to remain vigilant against financial fraud and report any suspicious activities to the SSP, EOW Kashmir. The EOW is dedicated to investigating financial crimes that require thorough inquiry and technical expertise to gather evidence for prosecution in court.
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