Bank employee arrested for Rs 1.26 crore fraud

In a major development, the Reasi police arrested an Assistant Manager of JK Bank’s Pouni branch for allegedly embezzling Rs 1.26 crore over the past three years. The accused, Ishwinder Singh, is alleged to have withdrawn money from dormant and deceased accounts.

The scam came to light after Singh tried to withdraw funds from an active account, raising suspicion from the account holder who then filed a complaint.

𝗝𝗞 𝗕𝗔𝗡𝗞 𝗔𝗦𝗦𝗜𝗦𝗧𝗔𝗡𝗧 𝗠𝗔𝗡𝗔𝗚𝗘𝗥 𝗔𝗥𝗥𝗘𝗦𝗧𝗘𝗗 𝗙𝗢𝗥 𝗠𝗔𝗞𝗜𝗡𝗚 𝗙𝗥𝗔𝗨𝗗𝗨𝗟𝗘𝗡𝗧 𝗗𝗘𝗕𝗜𝗧𝗦, 𝗔𝗠𝗢𝗨𝗡𝗧𝗜𝗡𝗚 𝗥𝗦 𝟭𝟮𝟲.𝟯𝟰 𝗟𝗔𝗖𝗦.https://t.co/JGvJIRql5R@OfficeOfLGJandK @JmuKmrPolice @adgp_igp @ZPHQJammu @UHqrs @mohita_ips @ddnews_jammu

— DISTRICT POLICE REASI (@REASIPOLICE) March 16, 2024

Following the complaint, a case (FIR No. 10/2024) under Section 409 of the Indian Penal Code (IPC) was registered at Police Station Pouni against Singh.

SSP Reasi Mohita Sharma, recognizing the seriousness of the offense, constituted a special team led by Dy.SP Headquarters Reasi Neeraj Padyar and Inspector Parmodh Singh, SHO Police Station Pouni.

The team conducted raids at various locations in Jammu and finally apprehended Singh at his hideout in Sainik Colony based on specific information.

SSP Reasi Mohita Sharma, while sharing the information, highlighted the seriousness of the crime and the efforts taken to nab the accused.

She emphasized the significance of the arrest, highlighting the month-long evasion of the accused and the substantial financial loss inflicted upon the public. The arrest signifies a major milestone in curbing fraudulent activities within the banking sector, particularly concerning the falsification of accounts and the misappropriation of funds.