Srinagar, August 1: The Economic Offences Wing (EOW) of the Crime Branch, Jammu and Kashmir, has filed a chargesheet in connection with an alleged ₹3.11 crore fraud involving the Central Co-operative Bank, Baramulla.
The chargesheet pertains to FIR No. 25/2016, registered under Sections 420, 468, 471, and 120-B of the Ranbir Penal Code (RPC). It was presented before the Court of the Chief Judicial Magistrate, Handwara, against two accused on charges of cheating, forgery, use of forged documents, and criminal conspiracy.
According to the Crime Branch, the investigation was launched following a written complaint from the then Registrar of Co-operative Societies, Jammu and Kashmir, highlighting alleged financial irregularities across different branches of the Central Co-operative Bank, Baramulla.
Investigators found that the then Branch Manager of the bank's Langate branch, allegedly acting in collusion with another accused, sanctioned fictitious loans and permitted overdrafts well beyond his authorized financial limits. These actions are alleged to have resulted in the misappropriation of nearly ₹3.11 crore of the bank's funds.
The investigation further concluded that the accused conspired to facilitate the fraudulent transactions, causing significant financial loss to the bank. Upon completion of the probe, the allegations were found to be substantiated, following which the chargesheet was filed before the competent court for further legal proceedings.
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, a Cashier-cum-Clerk and resident of Gund Karim Khan, Rafiabad.
