Crime Branch Registers ₹3.09 Crore Loan Fraud in Hatigam MPCS, Anantnag
Srinagar / Anantnag, September 4, 2025 — The Economic Offences Wing of the Crime Branch Kashmir (CBK) has registered a case in a massive loan fraud involving the Hatigam Multipurpose Cooperative Society (MPCS), Anantnag. According to a complaint by the GM of Anantnag Central Cooperative Bank, loans totaling ₹3.09 crore were disbursed in 2014 to 127 MPCS members. While ₹2.50 crore has been recovered, approximately ₹1.21 crore remains unpaid by 39 members who claim they had settled the dues directly with the society. (Source: Rising Kashmir)†
Findings from Preliminary Investigation
- The investigation indicates that certain bank officials colluded with MPCS members to create fake loan accounts under non-existent names.
- Funds were allegedly siphoned off for personal benefit.
- Names of individuals prima facie implicated include Reyaz Ahmad Bhat (Accountant), Mohammad Shafi Bhat, Ghulam Rasool Bhat, Ghulam Qadir Bhat, Haseena Banoo, and Mohammad Yousuf Bhat—all residents of Hatigam, Anantnag, among others.
Legal Action Initiated
An FIR has been registered under Sections 420 (cheating), 468 (forgery for purpose of cheating), 471 (using forged documents as genuine), 120-B (criminal conspiracy) of the Indian Penal Code, along with Section 5(2) of the Prevention of Corruption Act, at the Economic Offences Wing (Crime Branch) in Srinagar. The probe is ongoing as officials gather further evidence.
Source: Rising Kashmir — “Crime Branch Kashmir registers case in Rs 3.09 crore loan fraud in Anantnag” (Read Original)
Labels: Loan Fraud, Crime Branch Kashmir, Cooperative Society Scam, MPCS Anantnag
Tags: #LoanFraud #CrimeBranchKashmir #MPCSAnantnag #CorruptionProbe
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