JK Financial institution Assistant Supervisor Faces Allegations, Police initiated Probe

SRINAGAR: Jammu and Kashmir Police have famous a fraud in Pouni Department of Jammu and Kashmir Financial institution, the place over rupees one crore in deposited quantity in dormant accounts was taken by an officer of the financial institution with alleged cooperation from the previous supervisor.

Although direct involvement of the ex-manager was not confirmed, each have been suspended whereas Police Station Pouni has filed a case FIR and initiated further investigation.

In response to Police, a case FIR quantity 10/2024, underneath part 409 IPC, has been registered at Police Station Pouni towards accused specifically Ishwinder Singh, Asst Supervisor, JK Financial institution Pouni for making fraudulent debits from numerous inactive/deceased accounts amounting to the tune of Rs 126.34 lacs.

Quoting sources the Every day Excelsior reported that modus operandi of the accused officer concerned discretely activating the dormant accounts after which illegally withdrawing deposited cash. This apply was allegedly occurring for the final three years and an quantity of Rs 126.34 lakhs was illegally withdrawn by accused Asst Supervisor Ishwinder Singh, who’s a resident of Pouni, it reported.

A dormant account is an account that has had no monetary exercise for an extended time frame, apart from the posting of curiosity. After the dormancy interval, dormant accounts change into the unclaimed property of the state.

The fraud got here into discover of the financial institution after the accused withdrew quantity from an already lively account following which the account holder lodged a criticism on this regard.

Because the JK Financial institution head workplace initiated an inside probe, foremost accused Ishwinder Singh in addition to then Department Supervisor A P Singh Tara had been positioned underneath suspension. Apart from, restoration of some lakh rupees was additionally affected from the accused.

Investigation of the case is happening and no arrest was made on this regard to this point, the sources stated.