Bank fraud (Freepik)
The Crime Branch of the Jammu and Kashmir Police has arrested five individuals, including a former manager of the Jammu and Kashmir Bank, in connection with a multi-crore loan fraud, officials confirmed on Tuesday.
The investigation was initiated in 2023 following a complaint from Mohammad Shakeel, Chief Manager of the Supervision and Control Division at the bank’s Jammu Zonal Office. In his complaint, Shakeel alleged that Saleem Yousuf Bhatti, a contractual employee of the Integrated Watershed Management Programme (IWMP) in Poonch, along with his associates, fraudulently reactivated dormant accounts belonging to the Watershed Committee at the bank’s Lassana branch in Surankote.
According to the Crime Branch spokesperson, the accused altered the account details, issued fake salary certificates, and forged confirmation letters for fictitious employees. By falsely presenting themselves as government employees, they secured multiple loans, including personal loans, cash-credit loans, and car loans.
Additionally, the accused managed to open fraudulent government accounts at the bank’s Mendhar and Mendhar Bus Stand branches. They initially deposited funds from various banks into the accounts of the Watershed Committee and their own fraudulent accounts. Then, they issued fake authorization letters instructing the bank branches to transfer salaries into their individual accounts. Through this elaborate scheme, they illegally obtained loans amounting to ₹5 crore, causing significant financial losses to the bank.
As the investigation progressed, the Crime Branch arrested five individuals, including Jatinder Singh, the then-manager (Scale-II) of the bank’s Rajouri branch, who has since been demoted. Others arrested include impersonators Mohammad Kabir, Mohammad Zafeer Khan, and Zafar Iqbal from Poonch, along with Mohammad Shakeel from Rajouri.
Authorities continue to investigate the full extent of the fraud and possible involvement of additional suspects.
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