Three more arrested in bank fraud case

Kashmir Wire


With the arrest of three more persons allegedly involved in a bank fraud case, the number of arrested persons in this sensational case has rosen to five.

A police spokesman said three more accused allegedly involved in the disbursement of crores of rupees as loan to non-existing business units have been arrested, today.

He identified the arrested as Syed Kaunsar Niayazi son of Syed Shareef ud Deen Neyaz resident of Gowharpora, Chadoora running M/S Syeed Tours and Travels, Mudasir Nazeer Wani son of Nazeer Ahmad Wani resident of Babapora, Habba Kadal running M/S Travel King and Mohammad Ashraf Dev son of Late Wali Mohammad Dev resident of Sathsu, Baghat Kanipora running M/S Raf Raf Tour and Travels.

Police on November two arrested Rayees Ahmad Khan son of Manzoor Ahmad Khan resident of Chanapora Housing Colony and Irfan Ahmad Darzi son of Manzoor Ahmad Darzi resident of Rose lane, Chanapora.
The fraud came to the fore as the business units failed to repay the loan to the bank. Maisuma police received a` complaint from Manager of Canara Bank regarding disbursement of loan worth Rs 10 Crores to seven business units which failed to repay the loan amount.

He said a case (FIR number 40/20170) under section 420 RPC was registered and investigation was set in motion. “During investigation it surfaced that some cheaters hand in glove with the then Manager of Canara Bank dishonestly and fraudulently doctored documents to sanction loans for the business units which in reality were non existing, he said

“The investigation of the case is still going on and more arrests are expected,” he added (Kashmir Wire)

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