Srinagar, Jul 05:The Economic Offences Wing (EOW), Kashmir, of the Crime Branch, J&K, on Saturday filed a chargesheet against five persons for allegedly defrauding banks of rupees 60 lakh by obtaining loans on the basis of forged revenue records and fabricated title documents, officials said on Sunday.
They said the chargesheet has been filed in FIR No. 05/2019, registered under Sections 420, 467, 468, 471 and 120-B RPC, before the Court of the Chief Judicial Magistrate, Srinagar, against Sheikh Samiullah, son of Ab Rashid Sheikh, a resident of Arampora, Nawakadal, Srinagar; Ab Ahad Bhat, son of Gh Mouhidin Bhat, a resident of Mufti Bagh, Harwan; Ghulam Nabi Baqal, son of Gh Rasool Baqal, a resident of Saderabal-A, Hazratbal, Srinagar; Mushtaq Ahmad Sofi, son of Mohd Yasin Sofi, a resident of HMT, Zainkote, Srinagar; and Sartaj Ahmad Hakeem, son of Ab Razak Hakeem, a resident of Nai Sadak, Habba Kadal, Srinagar.
In a press statement, an official spokesperson said, "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 has been 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 sspeow kmr@jkpolice.gov.in.
