Crime Branch books ACC Society staffer for cheating


Crime Branch Kashmir on Tuesday registered a case against Adarsh Credit Co-Operative Society Ltd (ACCS) staffer for allegedly cheating the customers.

A CB handout issued here stated that the Crime Branch Kashmir received a communication from Adarsh Credit Co-Operative Society Ltd through Bhanu Sharma Regional Officer I-Charge, regional Office Jammu and Kashmir, saying Malik Muzaffar S/O  Ghulam Mohammad R/o Malik Pora 109, Dooru, Islamabad, was working as their staffer in the Islamabad branch of Adarsh Credit Co-Operative Society Ltd.

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On February 14, 2018, the Assistant Regional Manager of the society received a telephonic complaint from Nazir Ahmad Kumar S/O  Abdul Gaffar Kumar to the effect that he had given his Deposit Certificate (FDR) of Rs.2,27,550 to the accused on 15thJan.2018 for encashment and payment of the maturity amount, but the amount was not paid to him till date as the said amount was grabbed by the suspect and had issued fake and forged FDRs. Subsequently, a preliminary enquiry was initiated at Crime Branch Kashmir, Srinagar.

During the course of the enquiry, it has surfaced that the suspect Muzaffar Malik S/o Ghulam Mohammed Malik  R/O Malik Pora, Dooru, Anantnag has collected approximately a number of Rs 1.20 crore from the customers/depositors by issuing fake and forged FDRs.

It also  came to fore that during his posting at Islamabad district in south Kashmir Branch and other two branches of the society, the alleged person stole some blank FDRs and other documents,  thereby collected huge amounts from the gullible customers  through  Ghulam Rasool Ganie  and issued  fake  FDRs  to them, with the  assurance  that the amount so  deposited will be doubled   within  four year. But at the time of maturity, no such amount was paid to customers as the FDRs were fake and forged. Thereby suspect cheated the customers and their hard earned money grabbed.

Adarsh Credit Co-Operative Society Ltd is a Multi-state Credit Co-operative Society registered under “the Multi-State Co-operative Societies Act-2002” with its branches all over the state.

The society is registered under “the Multi-State Co-operative Societies Act-2002” with its branches all over the state.  The communication further reveals that the society is engaged in the business of providing financial services of thrift and credit to the members of the society, repayable on demand or otherwise, for the purpose of lending or investment. A deposit is accepted by the society against fixed Deposit receipt (FDR) to be issued to the member depositor.


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