The Economic Offences Wing (EOW), Kashmir, of the Crime Branch J&K has filed a chargesheet in a ₹3.11 crore embezzlement case involving the Central Co-operative Bank, Baramulla, alleging large-scale financial fraud and criminal conspiracy at its Langate branch.
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 (cheating), 468 (forgery), 471 (using forged documents as genuine), and 120-B (criminal conspiracy) of the Ranbir Penal Code (RPC).
The case was registered following a written communication from the then Registrar, Co-operative Societies, J&K, highlighting alleged financial irregularities and embezzlement in various branches of the Central Co-operative Bank, Baramulla.
During the investigation, the EOW found that the then Branch Manager of the Langate branch, allegedly in connivance with another accused, fraudulently sanctioned fictitious loans and permitted overdrafts far beyond his delegated financial powers, resulting in the misappropriation of approximately ₹3.11 crore of the bank's funds.
The investigation further revealed that the accused had 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, following which the chargesheet was presented before the competent court for judicial adjudication.
The two accused named in the chargesheet are Ghulam Mohammad Beigh, a retired Branch Manager and resident of Kenyal Tarthpora, Handwara, and Abdul Hamid Gojrii, Cashier-cum-Clerk, a resident of Gund Karim Khan, Rafiabad.
The Crime Branch advised the public to remain vigilant against economic offences and urged people to report any suspicious financial activities to the Senior Superintendent of Police, EOW Kashmir. Complaints can also be lodged through email at [email protected], the statement said.
