Bank Fraud Unveiled: The Rs 5 Crore Loan Scam in Jammu and Kashmir

The Jammu and Kashmir Police has filed a supplementary chargesheet against seven individuals in a Rs 5 crore loan scam in Rajouri district. The scam involves former bank manager Jatinder Singh and ex-employee Saleem Yousuf Bhatti, who, along with others, manipulated bank accounts to obtain fraudulent loans.

The Jammu and Kashmir Police have intensified investigations into a significant loan scam amounting to Rs 5 crore in Rajouri district. A supplementary chargesheet has been filed against seven individuals, including a former bank manager, officials revealed on Saturday.

The main orchestrators, former J&K Bank manager Jatinder Singh and ex-employee of the Integrated Watershed Management Programme, Saleem Yousuf Bhatti, are currently incarcerated. The chargesheet, submitted by the Crime Branch's special investigation team, also includes other accused like Mohd Shafiq and impersonators Waqar Ahmad, Zaheer Ahmad, Zafar Iqbal, and Mohd Shakeel.

The case originated from complaints by the chief manager of J&K Bank in Jammu, highlighting how dormant accounts were manipulated. The accused issued counterfeit documents to fetch personal and corporate loans, creating a tangled web of deceit, according to Crime Branch officials.

(With inputs from agencies.)