SRINAGAR: The Central Bureau of Investigation (CBI) has registered a corruption and fraud case against several private individuals, unknown bank officials and public servants in connection with the alleged misappropriation of funds under the Prime Minister’s Employment Generation Programme (PMEGP) at JK Bank’s Sumbal branch in north Kashmir’s Bandipora district.
According to an FIR registered by the CBI’s Anti-Corruption Branch (ACB), Srinagar, the accused allegedly entered into a criminal conspiracy to secure and sanction numerous PMEGP loans from 2022 onwards and subsequently diverted the loan funds through forged and fictitious invoices and bills.
The FIR states that unknown officials of JK Bank’s Sumbal branch allegedly conspired with private beneficiaries and other unidentified public servants to facilitate the sanctioning of loans under the self-employment scheme. The investigation alleges that funds released to beneficiaries were diverted to accounts linked to the accused through fabricated documentation, causing wrongful loss to the bank and public exchequer while generating unlawful gains for the accused.
The agency has invoked provisions of the Prevention of Corruption Act and the Indian Penal Code relating to criminal conspiracy, criminal breach of trust, cheating, forgery and use of forged documents. The FIR has been registered under Sections 120-B, 409, 420, 468 and 471 IPC, along with Section 13(1)(a) read with Section 13(2) of the Prevention of Corruption Act.
Among those named in the FIR are Hilal Ahmad Wani, Ali Mohammad Wani, Shabir Ahmad Wani, Khalida Bano, Fameeda Bano, Ghulam Mustafa Wani, Kamran Bhat, Tanveer Ahmad Wani, Farooq Ahmad Sheikh, Syed Zaffer Shah, Muzaffar Ahmad Beigh, Syed Abul Qasim, Zaffar Ahmad Hakak, Bilal Ahmad Dar, Mudasir Ahmad Ahangar, Naveed Ahmad Bhat, Bilal Ahmad Reshi and Ghulam Nabi Dar, besides unknown officials of KVIB, KVIC, DIC and JK Bank.
The CBI alleged that the diversion of funds prima facie indicates embezzlement and misappropriation of public money through criminal misconduct by public servants. The case pertains to activities allegedly carried out from 2022 onwards at the J&K Bank branch located in Sumbal, Bandipora.
The investigation has been entrusted to Inspector Meenakshi Yadav of CBI ACB Srinagar. Further investigation is underway. (KDC)
