Srinagar, Aug 1 (IANS) The Economic Offences Wing (EOW) of J&K Crime Branch said on Saturday it has filed a chargesheet in the Rs 3.11 crore Central Co-operative Bank embezzlement case.
A Crime Branch statement said the EOW Kashmir filed the chargesheet in FIR No. 25/2016 under Sections 420, 468, 471 and 120-B RPC before the Court of the Chief Judicial Magistrate, Handwara, for offences relating to cheating, forgery, use of forged documents and criminal conspiracy.
The investigation was initiated based on a communication from the then Registrar, Co-operative Societies, J&K, alleging large-scale financial irregularities and embezzlement in various branches of the Central Co-operative Bank, Baramulla.
It was established that the then Branch Manager of the Langate Branch, acting in connivance with other accused persons, fraudulently sanctioned fictitious loans and permitted overdrafts far in excess of his delegated authority, leading to misappropriation of approximately Rs 3.11 crore of bank funds.
The investigation further disclosed that the accused entered into a criminal conspiracy to facilitate these fraudulent transactions, causing substantial wrongful loss to the bank. The allegations were substantiated, and accordingly, the chargesheet has been presented before the competent court.
The accused chargesheeted in the case are: Ghulam Mohd Beigh (Retired Branch Manager), son of Ghulam Mohi-ud-Din Beigh, resident of Kenyal Tarthpora, Handwara; and Abdul Hamid Gojrii (Cashier-cum-Clerk), son of Abdul Razzak Gojrii, resident of Gund Karim Khan, Rafiabad.
The Crime Branch advised the public to remain vigilant against economic frauds and report suspicious activities to the SSP, EOW Kashmir. Victims may also lodge complaints through email at [email protected].
The EOW investigates financial crimes requiring dedicated investigation and technical expertise to unearth evidence for prosecution in court.
–IANS
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