5 pvt bank employees held in J&K for financial fraud

The arrested employees are Adil Ayoub Ganai, Irfan Majeed Zargar, Mubashir Hussain Sheikh, Zaid Manzoor and Javaid Ahmad Bhat, said police

Five employees of HDFC bank were arrested by the Ecnomic Offence wing of Crime Branch in connection with a financial fraud, police said on Wednesday even as crime branch officials also conducted raids and searches at several places in Shopian and Budgam districts.

The EOW, Kashmir, of crime branch J&K in a statement said that it conducted searches in the districts of Shopian and Budgam in connection with case registered under the relevant provisions of the Bharatiya Nyaya Sanhita and the IT Act at police station EOW Kashmir, crime branch, J&K. (File)

The arrested employees are Adil Ayoub Ganai, Irfan Majeed Zargar, Mubashir Hussain Sheikh, Zaid Manzoor and Javaid Ahmad Bhat, said police.

The crime branch has been investigating the case after they received complaints from some account holders that their money have been fraudulently withdrawn from Shopian Branch of the HDFC bank by some employees of the bank without the knowledge of the account holders.

The Economic Offences Wing (EOW), Kashmir, of Crime Branch J&K in a statement said that it conducted searches in the districts of Shopian and Budgam in connection with case registered under the relevant provisions of the Bharatiya Nyaya Sanhita and the IT Act at police station EOW Kashmir, crime branch, J&K.

“The matter came to light following a written complaint regarding large-scale financial fraud at branch unit, Shopian, of HDFC bank,” the crime branch spokesman said, adding that in compliance with the directions of PHQ J&K, the case was transferred from Shopian police station to the J&K crime branch for comprehensive probe.

“Searches were conducted at multiple locations in Shopian and Budgam to collect material evidence in the case. The EOW, Kashmir will continue to pursue all lawful measures to safeguard financial integrity,” the statement said.