Excelsior Correspondent
SRINAGAR, Nov 26: Police have registered a case in connection with a large-scale bank fraud of unauthorised withdrawals of lakhs of rupees at the Jammu and Kashmir Bank branch in Turkawangam in Shopian district.
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The case, registered under FIR number 104/2024 at the Zainapora Police Station, resulted in fraudulent withdrawals from bank accounts of various persons at the Jammu and Kashmir Bank branch in Turkawangam that first came to light in August this year, causing widespread concern among local bank customers.
The initial instance of fraud was discovered in the account of Mohammad Yousuf Shah, where the entire balance was withdrawn a day after his death on January 14, 2019.
His daughter Zarifa alleged that approximately Rs. 5 lakh was embezzled and transferred to multiple bank accounts associated with Mudasir Hassan Shah, a local resident.
The investigations revealed a more extensive pattern of financial irregularities. An elderly citizen, Abdul Ghani Lone, reported the unauthorized withdrawal of Rs.1.77 lakh from his account.
The customers from surrounding villages including Nuley Poshawari, MalDher, Sugan, and Turkawangam discovered their accounts had been systematically emptied.
Initial bank actions included recovering Rs. 3.5 million from various accounts and immediately attaching an employee suspected of involvement in the fraudulent activities.
A senior police officer said that the investigation is progressing comprehensively, with multiple arrests expected in the near future.
The incident has sparked outrage among local residents, who are demanding swift and stringent action against those responsible for the widespread financial fraud.
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