Daily Wager Siphons 1 04 Crore In J K Bank Loan Scam

The economic offences wing (EOW) of the Jammu and Kashmir crime branch has filed a comprehensive chargesheet against a daily-wage worker accused of orchestrating a ₹1.04 crore fraud.

The chargesheet was submitted before the court of additional special judge, anti-corruption, in Srinagar on Wednesday under FIR No. 20/2018.

The accused, Rouf Mohammad Wani, a resident of Hanjura in Chadoora, Budgam, faces multiple charges under Sections 420, 467, 468, 471, 409, and 201 of the Ranbir Penal Code (RPC), alongside Section 5(2) of the Prevention of Corruption Act.

Investigation officials said that Wani exploited his position while employed as a daily wager at the J&K Bank business unit in Dada Ompora, Chadoora. He systematically compromised the branch’s integrity by executing unauthorised transactions, illicitly debiting customer accounts, and manipulating Kisan Credit Card (KCC) loan limits. By illicitly acquiring and misusing official banking credentials, Wani diverted a total of ₹1,04,48,141 into private accounts.

The crime branch confirmed that the investigation clearly established Wani’s intent to secure illicit financial gains for himself and his family members, inflicting a direct and substantial financial loss on the bank. Following the conclusion of the probe and the gathering of forensic and documentary evidence, the EOW processed the case for formal judicial adjudication. In light of the breach, the EOW has issued a public advisory urging citizens to remain vigilant against evolving financial frauds and to immediately report any suspicious banking activities to the J&K crime branch.