JAMMU, Jun 28: The Economic Offences Wing (EOW) of the Crime Branch Jammu has registered a criminal case into an alleged multi-lakh loan fraud involving two branches of the J&K Grameen Bank after receiving complaints highlighting serious financial irregularities.
The case has been registered under Sections 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code following complaints forwarded through Crime Headquarters J&K by the Director of the Anti-Corruption Bureau.
According to Crime Branch official, the complaints were filed by the Chief of Audits, Inspection and Vigilance of J&K Grameen Bank and pertain to alleged fraudulent activities at the Kaluchak and Surankote branches. A preliminary verification conducted by the Crime Branch reportedly revealed prima facie evidence indicating the commission of cognizable offences, leading to the registration of a formal case.
At the Kaluchak branch, an internal enquiry allegedly uncovered that 58 loan accounts under 15 Joint Liability Groups (JLGs), along with two Cash Credit Limit accounts, were opened and operated fraudulently without the knowledge or consent of the concerned account holders. The suspected fraud is estimated at nearly Rs 42 lakh. Investigators also found that approximately Rs 12 lakh was allegedly diverted into bank accounts reportedly maintained in the name of the deceased Senior Manager, Bhagwan Singh Saini, while the remaining loan amounts were allegedly withdrawn through ATM transactions.
The enquiry further revealed that a Daily Wager engaged at the branch had allegedly admitted to using Rs 2 lakh from one JLG loan account for personal purposes. Following the disclosure, recovery proceedings were initiated in two loan accounts.
In a separate complaint related to the Surankote branch, allegations have been levelled against Branch Head Rohit Kumar and others for unauthorized financial transactions. The complaint alleges unauthorized debits of Rs 7.37 lakh and the fraudulent sanction and withdrawal of loans worth around Rs 19 lakh through five fake loan accounts that were allegedly opened without the knowledge or consent of the borrowers. These accounts were reportedly shown as settled or closed to reconcile the branch’s cash position.
Crime Branch official said the FIR has been registered against Rohit Kumar and other suspected persons, and an in-depth investigation has been launched to ascertain the roles of all those involved and uncover the full extent of the alleged fraud.
SSP Crime Branch (EOW) Jammu, Faisal Qureshi, appealed to the public to report similar instances of financial fraud, stating that timely information from citizens would help investigating agencies identify offenders and ensure that those responsible are brought to justice.