J-K Bank loan fraud: Third case registered, searches carried out in Bengaluru

The Anti-Corruption Bureau (ACB) registered a fresh case in the loan fraud worth over Rs 350 crore in Jammu and Kashmir Bank on Friday and conducted searches at different places in Bengaluru. This is the third case registered by the ACB in the case in the past 10 days.

"An FIR under various sections of the Prevention of Corruption Act and the Ranbir Penal Code has been registered against management, officers and officials of J&K Bank, along with the beneficiary involved in financial irregularities or loan fraud worth Rs 352.72 crore," a spokesman of the anti-corruption body said here. On August 7, two cases were registered in loan frauds worth about Rs 600 crore in the bank involving a different beneficiary, a Delhi-based businessman.