Jammu, Jun 28: The Economic Offences Wing (EOW) of the Crime Branch, Jammu, has registered a case in connection with an alleged loan fraud involving nearly ₹68 lakh in the J&K Grameen Bank, following complaints of large-scale financial irregularities at its Kaluchak and Surankote branches.
The case has been registered under Sections 420 and 120-B of the IPC after complaints forwarded through the Crime Headquarters by the Director, Anti-Corruption Bureau (ACB), J&K. The complaints were filed by the Chief of Audits, Inspection and Vigilance, J&K Grameen Bank.
According to the complaints, an internal enquiry at the Kaluchak branch revealed that 58 loan accounts under 15 Joint Liability Groups (JLGs) and two Cash Credit Limit accounts were allegedly opened and operated fraudulently without the knowledge or consent of the account holders, resulting in a suspected fraud of nearly ₹42 lakh.
The enquiry further found that around ₹12 lakh was allegedly diverted to bank accounts reportedly maintained in the name of the deceased Senior Manager, Bhagwan Singh Saini, while the remaining loan amount was allegedly withdrawn through ATMs.
Investigators also found that a daily wager engaged at the branch allegedly admitted to using ₹2 lakh from one JLG loan account for personal purposes. The amount was later recovered in two accounts, officials said.
In a separate complaint related to the Surankote branch, the Crime Branch said allegations have been levelled against Branch Head Rohit Kumar and others for unauthorized transactions and debits amounting to ₹7.37 lakh, besides the fraudulent sanction and withdrawal of loans worth around ₹19 lakh through five fake loan accounts allegedly opened without the borrowers’ knowledge or consent.
The enquiry revealed that these accounts were later shown as settled or closed, allegedly to reconcile the branch’s cash position.
Based on the complaints and findings of the preliminary verification, which disclosed a prima facie commission of cognizable offences, Police Station Crime Branch (EOW), Jammu, registered a formal case against Rohit Kumar and other suspected persons for a detailed investigation.
Senior Superintendent of Police, Crime Branch (EOW), Jammu, Faisal Qureshi appealed to the public to report similar cases so that those involved in financial fraud can be brought to justice.
