SRINAGAR: The Economic Offences Wing (EOW), Kashmir, of the Crime Branch, Jammu and Kashmir, has filed a chargesheet in connection with the alleged embezzlement of approximately Rs 3.11 crore from the Central Co-operative Bank, Baramulla, accusing a retired branch manager and a cashier-cum-clerk of fraud, forgery and criminal conspiracy.
According to a statement issued by the Crime Branch, the chargesheet in FIR No. 25/2016 has been filed before the Court of the Chief Judicial Magistrate, Handwara, under Sections 420, 468, 471 and 120-B of the Ranbir Penal Code (RPC), which relate to cheating, forgery, use of forged documents and criminal conspiracy.
The case was registered following a written communication from the then Registrar of Co-operative Societies, Jammu and Kashmir, highlighting alleged large-scale financial irregularities in various branches of the Central Co-operative Bank, Baramulla.
The investigation found that the then Branch Manager of the bank’s Langate branch, allegedly acting in connivance with other accused, sanctioned fictitious loans and permitted overdrafts far beyond his delegated financial powers. The alleged irregularities resulted in the misappropriation of nearly Rs 3.11 crore from the bank, the Crime Branch said.
Investigators further alleged that the accused entered into a criminal conspiracy to facilitate the fraudulent transactions, causing substantial financial loss to the bank. The allegations were substantiated during the course of the investigation, according to the statement.
The chargesheet names Ghulam Mohd Beigh, a retired Branch Manager and son of Ghulam Mohi-ud-Din Beigh, a resident of Kenyal Tarthpora, Handwara, and Abdul Hamid Gojrii, Cashier-cum-Clerk, son of Abdul Razzak Gojrii, a resident of Gund Karim Khan, Rafiabad.
The Crime Branch urged members of the public to remain vigilant against economic fraud and report any suspicious activities to the Senior Superintendent of Police, EOW Kashmir. Victims can also submit complaints through the designated official email, the statement added.
