Srinagar, Aug 1 (KNS): The Economic Offences Wing (EOW) of the Crime Branch, Jammu and Kashmir, has filed a chargesheet before a court here in connection with an alleged embezzlement of Rs 3.11 crore from the Central Co-operative Bank, Baramulla, officials said on Saturday.
The chargesheet was presented before the Chief Judicial Magistrate, Handwara, in FIR No. 25/2016, they said.
The accused, including a retired branch manager and a cashier-cum-clerk, have been booked under Sections 420 (cheating), 468 (forgery for purpose of cheating), 471 (using forged documents as genuine) and 120-B (criminal conspiracy) of the Ranbir Penal Code, officials said.
The investigation was initiated on a written complaint from the then Registrar, Co-operative Societies, J&K, alleging large-scale financial irregularities at multiple branches of the bank, they added.
During the probe, it was established that the then branch manager of the Langate branch, in connivance with other accused, had fraudulently sanctioned fictitious loans and allowed overdrafts exceeding his delegated financial authority, causing a wrongful loss of approximately Rs 3.
Click Here To Follow Our WhatsApp Channel11 crore to the bank, officials said.
The investigation also revealed a criminal conspiracy behind the fraudulent transactions, they added.
The accused chargesheeted are Ghulam Mohd Beigh (retired branch manager), son of Ghulam Mohi-ud-Din Beigh, resident of Kenyal Tarthpora, Handwara.
Abdul Hamid Gojrii (cashier-cum-clerk), son of Abdul Razzak Gojrii, resident of Gund Karim Khan, Rafiabad.
The Crime Branch has advised the public to remain vigilant against economic frauds and report suspicious activities to the SSP, EOW Kashmir, officials said. Complaints can also be lodged via email at sspeow-kmr@jkpolice.gov.in, they added. (KNS)