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J&K Bank Fraud Unveiled: Economic Offences Wing Chargesheet Against Prime Accused and Associates for Rs. 5 Crores Swindle

Mastermind Behind Rs. 5 Crores Bank Fraud: Chargesheet Filed Against Saleem Yousaf Bhatti and Three Accomplices

 

09-12-2023 : Economic Offences Wing – Crime Branch Jammu produced 496 page preliminary charge-sheet against 04 accused persons including prime accused 1) Saleem Yousaf Bhatti S/o Mohd Yousaf R/o Narol, Mendhar Poonch Court of law in case FIR No. 86/2023 U/S 419, 420, 465, 467, 468, 471, 120-B/IPC P/S Crime Branch Jammu for their involvement in hatching criminal conspiracy and swindling Rs. 5 Crores from different Branches of J&K Bank across the UT of J&K, particularly from District Poonch, as loans of different nature, on the pretext of Govt. Scheme under integrated water Management Programme meant for District Poonch.  The prime accused & Master mind Saleem Youf Bhatti who was previously working as a contractual-based employeed in the IWMP – a Central Govt. Sponsored Scheme executed his nefarious designs by misusing his position and misrepresentation of facts.   The other co-accused arrested in the case are 2)  Mohd Altaf S/o Said Mohd R/o Ari Mendhar Poonch 3) Ruksana Tabassum w/o Mohd Altaf R/o Ari, Mendhar Poonch, and 4) Zahida Parveen D/o Mohd Ikhlaq R/o Ari, Mendhar Poonch.

The case starts with the complaint lodged by the Chief Manager S&C Division, Zonal Office J&K Bank Ltd. Jammu, alleging that Saleem Yousaf Bhatti who was a contractual employee with the Integrated Water Shed Management Programme Department at Poonch, and others had illegally activated the in-active accounts of the Water Shed Committee at J&K Bank Branch Lassana, Surankote Poonch. Subsequently accused persons changed the nomenclature of the accounts, fabricated fake salary certificates & confirmation letters to different non-existing employees and managed personal loans, cash credit loans and car loans etc in crores by presenting themselves as Government Employees. The above accused have also managed to open fraudulent Government accounts at J&K Bank Branch Office Mendhar and Branch Office Bus Stand Mendhar. The accused have firstly deposited money through different Banks/Branches in the accounts of the watershed committee and the fake accounts opened by them, issued fake authority letters instructing the Branches to disburse & credit the salaries in individual  accounts which were later on projected as Government Employees and thus they managed to obtain loan from different other Branches of the Bank thereby causing wrongful loss to the tune of Rs. approximately 5 Cores.

On receipt of the complaint, a preliminary verification was initiated and during the probe the allegations were prima facie substantiated, leading to the registration of a formal case for in-depth investigation. During the course of investigation, relevant record was seized, statements of witnesses were recorded, Scientific, Circumstantial and other material evidence were collected and offences U/S 419, 420, 465, 467, 468, 471, 120-B/IPC P/S Crime Branch Jammu were established against the the prime accused who by way of misuse of position and misrepresentation of facts in connivance with other co-accused swindled money in crores from the bank on the pretext of seeking loans of different nature, using different accounts of other accused. All these loans are now Non-Performing Assets (NPA) of the J&K Bank. Investigations of the case is in progress to identify and arrest other accused involved in the crime and other nexus in the case.