Excelsior Correspondent
REASI, Mar 16: The accused Assistant Manager of J&K Bank, who had fraudulently debited Rs 1.26 crores from dormant accounts in the bank branch at Pouni, was arrested by Reasi Police on Saturday.
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A case FIR number 10/2024, Under Section 409 IPC, was registered at Police Station Pouni against the arrested accused Ishwinder Singh, Asst Manager, JK Bank Pouni, resident of Pouni, A/P H. No. 60-A Sainik Colony Jammu, for making fraudulent debits from various inactive /deceased accounts amounting to the tune of Rs 126.34 lacs.
The Excelsior had exclusively reported the case in its February 11 issue of last month. The modus operandi of the accused officer involved discretely activating the dormant accounts and then illegally withdrawing deposited money. This practice was allegedly going on for the last three years and an amount of Rs 126.34 lakhs was illegally withdrawn by the accused Asst Manager Ishwinder Singh, who is a resident of Pouni.
A dormant account is an account that has had no financial activity for a long period of time, except for the posting of interest. After the dormancy period, dormant accounts become the unclaimed property of the state.
The fraud came into notice of the bank after the accused withdrew amount from an already active account following which the account holder lodged a complaint.
As the J&K Bank head office initiated an internal probe, main accused Ishwinder Singh as well as then Branch Manager A P Singh Tara were placed under suspension. Besides, recovery of a few lakh rupees was also affected from the accused.
Besides, a case in this connection was also registered at Police Station Pouni. Sensing gravity of the offence, SSP Reasi Mohita Sharma constituted a special team, comprising SHO Pouni, Parmodh Singh, under the supervision of DySP Headquarters, Reasi, Neeraj Padyar, which arrested accused Ishvinder Singh Ranyal.
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