Srinagar, Sept 3 (KNZ): Crime Branch Kashmir’s Economic Offences Wing has registered a case into a ₹3.09 crore loan fraud involving Hatigam Multipurpose Cooperative Society (MPCS) Anantnag, following a complaint from Anantnag Central Cooperative Bank Ltd.
Investigations revealed that loans were fraudulently processed in the names of non-existent individuals in connivance with MPCS members, with funds siphoned off for personal gains.
The accused include Reyaz Ahmad Bhat, Mohammad Shafi Bhat, Ghulam Rasool Bhat, Ghulam Qadir Bhat, Haseena Banoo, Mohammad Yousuf Bhat—all residents of Hatigam Anantnag—and others.
An FIR has been registered under Sections 420, 468, 471, 120-B RPC r/w Section 5(2) of the Prevention of Corruption Act. Further investigation is underway.KNZ
