Srinagar, August 1: The Economic Offences Wing (EOW) Kashmir of the Crime Branch, Kashmir, has filed a chargesheet in a decade-old bank fraud case involving the alleged embezzlement of nearly ₹3.11 crore from the Central Co-operative Bank, Baramulla.
The chargesheet in FIR No. 25/2016, registered under Sections 420, 468, 471 and 120-B of the Ranbir Penal Code (RPC), was presented before the Court of the Chief Judicial Magistrate, Handwara, against two accused for offences relating to cheating, forgery, use of forged documents and criminal conspiracy.
According to the Crime Branch, the investigation was initiated following a written communication from the then Registrar, Co-operative Societies, Jammu and Kashmir, alleging large-scale financial irregularities in various branches of the Central Co-operative Bank, Baramulla.
The investigation revealed that the then Branch Manager of the bank’s Langate Branch, allegedly in connivance with other accused, fraudulently sanctioned fictitious loans and allowed overdrafts far beyond his delegated financial powers, resulting in the misappropriation of approximately ₹3.11 crore of the bank’s funds.
The Crime Branch further alleged that the accused entered into a criminal conspiracy to facilitate the fraudulent transactions, causing substantial wrongful loss to the bank. Following completion of the investigation, the allegations were found substantiated and the chargesheet was filed before the competent court for judicial proceedings.
The accused chargesheeted in the case are Ghulam Mohammad Beigh, a retired Branch Manager and resident of Kenyal Tarthpora, Handwara, and Abdul Hamid Gojrii, Cashier-cum-Clerk, a resident of Gund Karim Khan, Rafiabad. – [KNT]
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