Crime Branch files chargesheet in decade-old loan fraud case in Jammu

Jammu, Mar 16: The Special Crime Wing (SCW) of the Crime Branch Jammu and Kashmir has filed a chargesheet in a decade-old loan fraud case before the Court of Special Municipal Magistrate, Jammu.

According to officials, the chargesheet in FIR No. 07/2015 has been filed under Sections 420, 465, 466, 467, 468, 471 and 120-B RPC against the accused persons for allegedly cheating the complainant on the pretext of arranging a loan at zero percent interest.

Investigations revealed that the complainant was induced by the accused to deposit money and submit personal documents, including blank cheques, on the assurance that a loan would be arranged. However, the accused neither arranged the promised loan nor returned the deposited amount.

During the investigation, the SCW found that the accused had floated a fake entity named “Future Club” and used multiple bank accounts and mobile numbers to lure and cheat unsuspecting people. The investigating team collected bank records, financial transaction details, call detail records (CDRs) and other documentary evidence to establish the offences.

The probe established the involvement of the main accused Gurab Kumar in the fraud. Criminal conspiracy under Section 120-B RPC was also established against Mungal Singh (since deceased), Raj Kumar and Parveen Kumar.

Officials said the case remained under investigation for several years and was handled by multiple investigating officers due to its age. The investigation was eventually completed by Inspector Nisar Ahmed, who presented the chargesheet before the competent court for judicial determination.

Meanwhile, SSP SCW Crime Branch Jammu, Sanjay Parihar, appealed to the public to remain cautious and avoid falling victim to fraudulent schemes promising unrealistically low-interest loans or unusually high investment returns. He reiterated the Crime Branch’s commitment to bringing fraudsters to justice and protecting the public from financial crimes.