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Central Bureau of Investigation filed a Rs 177 crore bank fraud case

Central Bureau of Investigation filed a Rs 177 crore bank fraud case

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  15 March 2020 12:00 PM GMT

JAMMU: Almost 10 days after the Central Bureau of Investigation filed a Rs 177 crore bank fraud case against Hilal Rather, son of former J&K Finance Minister and National Conference leader Abdul Rahim Rather, the CBI charge-sheeted him and two bank employees on Saturday.

The charge-sheeted bank Officials are Iqbal Singh and Arun Kapoor, both then J&K Bank branch head, New University Campus. The case was earlier investigated by the J&K Police’s anti-corruption branch. It was handed over to the CBI because of “international ramifications” of the conspiracy of loan funds diversion.

A CBI official said it was alleged that Hilal entered into a criminal conspiracy with the J&K Bank officials to get a Rs 177.68 crore loan sanctioned in violation of rules and guidelines. “The loan amount, sanctioned for construction of flats, were allegedly diverted and misappropriated by the accused using the bank accounts of his employees,” the official said. (IANS)

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