Mendhar: Police arrests retired bank employee for alleged fraud of Rs 3 crore

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The police in the Mendhar area of Poonch district have registered a case and arrested a retired official of Jammu Central Cooperative Bank Limited after a major scam of around 3 crores surfaced in the bank.

An official told a local news agency, Kashmir News Observer (KNO) that they have arrested the retired bank official suspected to be involved in the major bank scam.

He said that the bank is located in Mendhar town and hundreds of account holders from various villages of Poonch district are having their savings and other forms of accounts in the bank.

The official said that in recent weeks, it has come to the fore that around 3 crores are missing in the bank accounts which were deposited by bank account holders but allegedly were not deposited further by the bank official(s).

He said that a retired bank employee and few others are suspected to be involved in this scam who embezzled around 3 crores from the bank accounts.

Meanwhile, a senior police official said that they have registered a First Investigation Report (FIR) in Mendhar police station under relevant sections of law including 420 Indian Penal Code (IPC), and have so far arrested a retired official of the bank.

He said that further investigation of the matter is going on—(KNO)

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