Srinagar, Aug 1: The Economic Offences Wing (EOW) Kashmir of the Crime Branch, Jammu and Kashmir, has filed a chargesheet in a major ₹3.11 crore embezzlement case involving the Central Co-operative Bank, Baramulla, before the Court of the Chief Judicial Magistrate, Handwara.
The chargesheet has been filed in FIR No. 25/2016 under Sections 420 (Cheating), 468 (Forgery), 471 (Using Forged Documents as Genuine) and 120-B (Criminal Conspiracy) of the Ranbir Penal Code (RPC) after the completion of a detailed investigation into the alleged financial fraud.
According to the Crime Branch, the case originated from a written communication submitted by the then Registrar, Co-operative Societies, J&K, who reported large-scale financial irregularities and suspected embezzlement in different branches of the Central Co-operative Bank, Baramulla.
During the investigation, the EOW Kashmir found that the then Branch Manager of the Langate Branch, allegedly in connivance with other accused persons, fraudulently sanctioned fictitious loan accounts and allowed overdrafts far beyond his delegated financial powers. The fraudulent transactions allegedly resulted in the misappropriation of nearly ₹3.11 crore from the bank.
The investigation further revealed that the accused had allegedly entered into a criminal conspiracy to facilitate the fraudulent loans and overdrafts by preparing and using forged documents and manipulating official records, causing substantial financial loss to the banking institution.
Crime Branch officials said the allegations were substantiated during the course of investigation, following which a chargesheet was presented before the competent court for judicial proceedings.The accused named in the chargesheet 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.
Meanwhile, the Crime Branch has advised the public to remain vigilant against economic offences and financial frauds. It appealed to citizens to report any suspicious financial activities to the SSP, EOW Kashmir, while victims of financial fraud can also lodge complaints through the official email sspeow-kmr@jkpolice.gov.in.(KNC)
