Srinagar, Aug 01: The Economic Offences Wing (EOW) Kashmir on Saturday said it has filed a chargesheet against two accused in connection with the alleged embezzlement of around Rs 3.11 crore from the Central Co-operative Bank’s Langate branch.
In a statement issued, spokesperson said the Economic Offences Wing (EOW) Kashmir of the Crime Branch, J&K, has filed a 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 related to cheating, forgery, use of forged documents and criminal conspiracy.
He said the investigation was initiated on the basis of a written 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.
“During the investigation, 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 beyond his delegated financial authority, leading to the misappropriation of approximately Rs 3.11 crore of the bank’s funds. The investigation further disclosed that the accused entered into a criminal conspiracy to facilitate these fraudulent transactions, thereby causing substantial wrongful loss to the bank,” the spokesperson said.
He said the allegations were substantiated during the investigation and, accordingly, the chargesheet was presented before the competent court for judicial adjudication.
The spokesperson said those chargesheeted in the case are Ghulam Mohd Beigh, retired Branch Manager and a resident of Kenyal Tarthpora, Handwara, and Abdul Hamid Gojrii, Cashier-cum-Clerk and a resident of Gund Karim Khan, Rafiabad.
“The Crime Branch has advised the public to remain vigilant against such economic frauds and report any suspicious activities to the SSP, EOW Kashmir. Victims may also lodge complaints through email at [email protected],” the spokesperson added.
