Jk Bank Fraud Fake Loan Accounts Crime Branch Fir Rs68 Lakh

Jammu and Kashmir Police’s Crime Branch on Sunday registered an FIR in a case related to the opening of suspected fake loan accounts and allegations of unauthorised transactions and diversion of funds involving more than Rs 68 lakh in a bank. This followed an internal vigilance inquiry that uncovered the fraud, officials said. The complaints received from the bank’s chief of audits, inspection and vigilance were forwarded through the director of the Anti-Corruption Bureau. Officials said it was found during the internal inquiry that 58 loan accounts under 15 joint liability groups (JLGs) and two cash credit limit accounts were allegedly opened at the bank’s Kaluchak branch and operated fraudulently without the knowledge or consent of the account holders concerned, resulting in a suspected fraud of approximately Rs 42 lakh. It was further revealed that around Rs 12 lakh was allegedly diverted to bank accounts reportedly maintained in the name of a deceased senior manager, while the remaining loan amounts were allegedly withdrawn through ATMs. The inquiry also disclosed that a daily wager engaged at the branch had allegedly admitted to utilising loan proceeds of Rs 2 lakh in one JLG account for personal use, following which recovery was affected in two accounts, the spokesperson said. Another complaint In a separate complaint relating to the Surankote branch, the official said allegations were made against the branch head and others regarding unauthorised transactions and debit amounting to Rs 7.37 lakh, besides fraudulent sanction and withdrawal of loans worth about Rs 19 lakh through five fake loan accounts allegedly opened without the knowledge or consent of the borrowers. The accounts were subsequently shown as settled or closed, allegedly to reconcile the branch’s cash position, the spokesperson said. On the basis of the complaints and the findings of the preliminary verification, which disclosed a prima facie commission of cognisable offences, the police station Crime Branch (EOW) Jammu registered a case. The SSP of Crime Branch (EOW) Jammu, Faisal Qureshi, has appealed to the general public to report such cases so that the culprits are brought to justice.