Jammu and Kashmir Police’s Crime Branch has apprehended five individuals, including a former Jammu and Kashmir Bank manager, for their involvement in a multi-crore-rupee loan fraud.
The investigation, initiated in 2023 following a complaint from a Jammu and Kashmir Bank official, revealed a scheme orchestrated by Saleem Yousuf Bhatti, a contractual employee of the Integrated Watershed Management Programme (IWMP) in Poonch, and others.
The accused allegedly reactivated dormant watershed committee accounts at the bank’s Lassana branch in Surankote, fraudulently altered account details, and fabricated salary certificates and employment confirmation letters. This enabled them to secure personal, cash-credit, and car loans by posing as government employees.
Furthermore, they opened fraudulent government accounts at the bank’s Mendhar and Mendhar Bus Stand branches. The scheme involved depositing funds from various banks into the watershed committee and fake accounts, followed by the issuance of forged authorization letters instructing the branches to transfer salaries to the accused’s individual accounts.
Through these deceptive practices, the group reportedly obtained approximately Rs 5 crore in fraudulent loans from multiple Jammu and Kashmir Bank branches, causing significant financial losses to the institution.
