Srinagar, July 5 (JKNS): The Economic Offences Wing (EOW) Kashmir of Crime Branch Jammu and Kashmir has filed a chargesheet against five accused in a multi-lakh bank loan fraud case involving the alleged fraudulent procurement of ₹60 lakh in loans from J&K Bank by using forged revenue records and fabricated title documents.
Spokesperson in a statement issued here to news agency JKNS, EOW Kashmir, of Crime Branch J&K has filed a chargesheet in FIR No. 05/2019 under Sections 420, 467, 468, 471 and 120-B RPC before the Hon’ble Court of the Chief Judicial Magistrate, Srinagar, against Sheikh Samiullah S/o Ab Rashid Sheikh R/o Arampora Nawakadal Srinagar, Ab. Ahad Bhat S/o Gh Mouhidin Bhat R/o Mufti Bagh Harwan, Ghulam Nabi Baqal S/o Gh Rasool Baqal R/o Saderabal A, Hazratbal Srinagar, Mushtaq Ahmad Sofi S/o Mohd Yasin Sofi R/o HMT Zainkote Srinagar and Sartaj Ahamd Hakeem S/o Ab Razak Hakeem R/o Nai Sadak Habba Kadal Srinagar for securing bank loans through forged revenue records and fabricated title documents.
The investigation was initiated after J&K Bank lodged a complaint alleging that the accused had obtained a term loan of Rs. 30 lakh from its Zainkote Branch and a cash credit facility of Rs. 30 lakh from its Residency Road Branch in 2007 by mortgaging properties on the basis of fake documents.
The borrowers subsequently defaulted, and verification by revenue authorities confirmed that the mortgage documents and revenue extracts were forged. Investigation established that the accused Sheikh Samiullah in connivance with each other acted in conspiracy to deceive the bank and misappropriate the loan amount.
The general public is advised to remain vigilant against economic fraudsters and report any such incidents to the SSP, EOW Kashmir, Crime Branch J&K. Victims of economic fraud may also submit their complaints via email at [email protected] (JKNS)
